Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Consumer Protection and Commerce, to which was referred H.B. No. 17, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to remove duplicative disclosure requirements applicable to time share units. Specifically, the bill provides that time share plans that are registered, and must provide disclosure to purchasers under chapter 514E, Hawaii Revised Statutes (HRS), Time Sharing Plans:

The Real Estate Commission, American Resort Development Association of Hawaii, American Resort Development Association, Hilton Grand Vacations Company, and Pahio Resorts, Inc., testified in support of this bill.

Your Committee finds that this bill will provide Hawaii's time share industry with relief from unnecessary regulatory requirements while allowing time share developers to provide consumers with a single set of disclosure documents, thereby reducing consumer confusion and facilitating consumer understanding of their rights under the law.

Technical, nonsubstantive amendments have been made by your Committee for purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Consumer Protection and Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 17, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 17, H.D. 2.