HI SR33

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.

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

Proposes that depositories issuing loans with favorable terms to housing developers should be considered as having beneficial effects to the State, as these loans lower development costs and expand affordable housing capacity.

Recognizes the Director of Finance's discretion to invest public treasury funds with certain depositaries, subject to Governor approval and statutory requirements to consider beneficial effects to the State.

Directs transmission of a certified copy of this resolution to the Director of Finance.