HOUSE OF REPRESENTATIVES

THE TWENTY-FOURTH LEGISLATURE

REGULAR SESSION OF 2007

COMMITTEE ON CONSUMER PROTECTION & COMMERCE

Rep. Robert N. Herkes, Chair

Rep. Angus L.K. McKelvey, Vice Chair

Rep. Kirk Caldwell	Rep. Joseph M. Souki
Rep. Cindy Evans	Rep. Clift Tsuji
Rep. Josh Green, M.D.	Rep. Ryan I. Yamane
Rep. Ken Ito	Rep. Kyle T. Yamashita
Rep. Sylvia Luke	Rep. Barbara C. Marumoto
Rep. Hermina M. Morita	Rep. Cynthia Thielen
Rep. Alex M. Sonson

NOTICE OF HEARING

DATE:

Monday, February 5, 2007

TIME:

2:15pm

PLACE:

Conference Room 325

State Capitol

415 South Beretania Street

A G E N D A

HB 774	RELATING TO CEMETERY AUTHORITIES. Requires pre-need trusts and perpetual care funds to distribute summaries of their audited financial statements to their purchasers.	CPC
HB 815	RELATING TO CEMETERY AND FUNERAL TRUSTS. Establishes requirements for cancellation, refund, and default of prepaid funeral plan contracts. Clarifies requirements for prepaid funeral plan contract terms.	CPC
HB 934	RELATING TO CEMETERIES. Requires a cemetery authority to file with the department of commerce and consumer affairs a map of the cemetery, and a unique locating identifier that becomes a part of the contract disclosure requirements. Makes authority's books subject to examination by the department of commerce and consumer affairs.	CPC, WLH
HB 92	RELATING TO THE GENERAL EXCISE TAX. Requires an investment broker and agent who share compensation for their services to pay the general excise tax on only that portion of the compensation retained by each. Effective 7/1/07.	CPC, FIN
HB 273	RELATING TO ANNUITIES. Establishes standards and procedures to be followed by insurers or insurance producers when making recommendations to consumers who are considering the purchase or exchange of any annuity.	CPC, FIN
HB 272	RELATING TO CAPTIVE INSURANCE COMPANIES. Allows captive insurance companies to be formed as limited liability companies. Clarifies minimum capital and surplus requirements. Increases investment flexibility for pure captives.	CPC
HB 1323	RELATING TO CAPTIVE INSURANCE. Establishes a $200,000 maximum annual premium tax paid by captive insurance companies licensed by the DCCA.	CPC, FIN
HB 521	RELATING TO THE HAWAII HURRICANE RELIEF FUND. Authorizes the use of the Hawaii Hurricane Relief Fund to finance natural disaster reinsurance and catastrophe bonds.	CPC, FIN

DECISION MAKING TO FOLLOW

PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 45 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) THE COMMITTEE'S VICE CHAIR IN ROOM 315, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS TESTIMONY DROP OFF BOX IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY ALSO BE FAXED IF LESS THAN 5 PAGES IN LENGTH TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT IS NEEDED FOR SUBMITTAL.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586‑6172.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER, WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE COMMITTEE CLERK AT LEAST 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE. PROMPT REQUESTS SUBMITTED HELP TO ENSURE THE AVAILABILITY OF QUALIFIED INDIVIDUALS AND APPROPRIATE ACCOMMODATIONS.

SELECTED HEARINGS ARE BROADCAST LIVE. CHECK THE CURRENT LEGISLATIVE BROADCAST SCHEDULE ON THE "CAPITOL TV" WEB SITE AT WWW.CAPITOLTV.ORG OR CALL 550-8074 FOR A LISTING.

________________________________________

Rep. Robert N. Herkes

Chair