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 S.B. No. 178, S.D. 2, 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:

American Resort Development Association of Hawaii, Interval International, Hilton Grand Vacations Company, and Pahio Resorts, Inc., and a concerned individual testified in support of the bill. Testimony in support of the intent of the bill was submitted by the Real Estate Commission.

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.

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 S.B. No. 178, S.D. 2, H.D. 1, and recommends that it pass Third Reading.