HI SCR45

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

Identifies housing supply as a major issue for Hawaii and calls for expanded financing options to increase housing availability.

Proposes that depositories offering favorable loan terms to housing developers for Hawaii residents should be considered as providing beneficial effects to the State.

States that such loans help lower development costs and expand the State's ability to create affordable housing.

Requires a certified copy of the resolution be transmitted to the Director of Finance.