HI HCR89

Urges the Director of Finance to adopt administrative rules defining "beneficial effects to the State" under Hawaii Revised Statutes Section 38-2 to include housing financing.

Recognizes that the Director of Finance has discretion to invest state treasury funds with depositories and must consider beneficial effects to the State when making these decisions.

Proposes that depositories issuing favorable-term loans to housing developers should be considered as providing beneficial effects by lowering development costs and expanding affordable housing availability.

Addresses Hawaii's limited housing supply by incentivizing depositories to finance housing through state treasury investment decisions.

Requires transmittal of a certified copy to the Director of Finance.