STAND. COM. REP. NO.3013
Honolulu, Hawaii
, 2002
RE: H.B. No. 2466
H.D. 1
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Commerce, Consumer Protection and Housing, to which was referred H.B. No. 2466, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO REAL ESTATE,"
begs leave to report as follows:
The purposes of this measure are to:
(1) Reduce regulatory requirements for limited-equity housing cooperatives;
(2) Revise the licensure requirements for out-of-state real estate licensees who have previously met equivalent prelicensing requirements by authorizing the Real Estate Commission to enter into formal license reciprocity or recognition agreements; and
(3) Streamline regulatory requirements for condominium managing agents.
Your Committee received testimony in support of the measure from the Real Estate Commission and Hawaii Association of Realtors.
Your Committee finds that the changes proposed in this measure will reduce regulatory burdens on businesses, the general public, and State government. It will also enhance the public's ability to understand the laws, which will lead to greater consumer protection.
Your Committee has amended the measure by:
(1) Making technical nonsubstantive changes to reflect preferred drafting style and correctly reflect the language in the Hawaii Revised Statutes; and
(2) Adding an effective date of July 1, 2050, to ensure a continuation of the discussion on this important issue.
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 H.B. No. 2466, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2466, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.
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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