STAND. COM. REP. NO.636
Honolulu, Hawaii
, 2001
RE: S.B. No. 1061
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Commerce, Consumer Protection and Housing, to which was referred S.B. No. 1061 entitled:
"A BILL FOR AN ACT RELATING TO REAL ESTATE BROKERS,"
begs leave to report as follows:
The purpose of this measure is to update, streamline, and clarify the laws relating to real estate broker licensing, condominium hotel operators, and fidelity bond requirements for condominium managing agents.
Testimony in support of the measure was received from the Lieutenant Governor, the Real Estate Commission, and the Hawaii Association of Realtors.
Your Committee finds that the measure:
(1) Eases the regulatory burden on real estate broker licensing requirements by changing the experience requirements for real estate broker applicants from two full-time years experience within the last five years to at least three years experience within the five years immediately preceding an application for a real estate broker license;
(2) Deletes the requirement that a condominium hotel operator who also holds a real estate broker license maintain a separate condominium hotel operator registration and a fidelity bond for the condominium hotel operation since real estate brokers are covered by the Real Estate Recovery Fund which was established to protect consumers; and
(3) Conforms the information and documentation filing requirements for fidelity bonds for condominium hotel operators and condominium managing agents to ensure consistency.
Your Committee further finds that these amendments are a part of the Administration's directive to eliminate the unnecessary regulation of businesses which has been spearheaded by the Lieutenant Governor over the past two years.
Upon the request of the Real Estate Commission, your Committee has amended the measure by deleting the proposed repeal of section 467-30(c), Hawaii Revised Statutes, which exempts employees of condominium hotel operators who only perform or facilitate the delivery of customary hotel services. Your Committee has also made numerous technical, nonsubstantive amendments to conform the measure to recommended drafting procedures.
As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1061, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1061, S.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,
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____________________________ RON MENOR, Chair |
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