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Votes at a glance: committee actions on housing, banking and limited-profit housing bills
Summary
On Jan. 29 the Senate Commerce and Consumer Protection committee and partner committees deferred or advanced several housing and banking bills: SB 69 deferred; SB 24 passed with amendments; SB 76 passed with amendments.
At the Jan. 29 Senate Committee on Commerce and Consumer Protection hearing, members handled a set of bills affecting public depositories and housing programs.
SB 69 (public funds depositories): The committee deferred decision-making in CPN to Feb. 4 and the Committee on Housing deferred decision making to Feb. 4 (1:00 p.m., Room 225). The bill would require the director of finance to consider the benefits of using in-state depositories, including favorable lending terms to support affordable housing, when selecting the state treasury depository.
SB 24 (limited profit housing associations): The committee recommended passage with technical, non-substantive amendments and a change replacing general “affordable housing” references with “housing exclusively for qualified residents as defined in HRS 201H-32.” The chairs recorded the recommendation to pass with amendments; the recommendation was adopted.
SB 76 (housing — rent-to-own program): The committee recommended passage with amendments, including a defected effective date; the Chairs noted that DLNR’s proposed amendment would not be adopted. The committee recorded the recommendation to pass with amendments; the recommendation was adopted.
Why it matters: SB 24 sets governance and tax-regulatory frameworks for limited-profit housing associations; SB 76 changes eligibility and contract rules for a rent-to-own program that affects property terms and long-term resale pricing; SB 69 would direct finance officials to consider local depositories when choosing the state treasury bank, potentially shaping state lending support for housing.
What’s next: SB 24 and SB 76 will move forward with committee amendments; SB 69’s decision-making was deferred to Feb. 4.
