Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Energy and Environmental Protection, to which was referred H.B. No. 698 entitled:

begs leave to report as follows:

The purpose of this bill is to reduce the regulatory burden on Hawaii's businesses by repealing the Hawaii Environmental Disclosure Act found in chapter 343D, Hawaii Revised Statutes.

The Lieutenant Governor testified in support of this measure.

Your Committee finds that the disclosure law is no longer effective or needed. Chapter 343D was enacted to alert the public of major corporate changes that may impact Hawaii's environment, land use, jobs, and economy. Specifically, the law requires a purchaser of a certain percentage of a Hawaii corporation or its assets to disclose certain information, including a description of the purchaser, financial statement, and a history of compliance and noncompliance with applicable environmental laws. Only twelve filings have been made since the law was enacted in 1982.

Your Committee further finds that there are more effective mechanisms to inform the public of the required disclosure information, including environmental impact statements, land use commission proceedings, and state and county land use planning processes.

As affirmed by the record of votes of the members of your Committee on Energy and Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 698 and recommends that it pass Second Reading and be referred to the Committee on Consumer Protection and Commerce.