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. 2485 entitled:

begs leave to report as follows:

The purpose of this measure is to repeal the central service assessment exemptions for the Compliance Resolution Fund (CRF) and the Insurance Regulation Fund (IRF).

The Insurance Commissioner testified in support of this measure.

All State special funds, unless specifically exempted, are subject to an assessment to help defray the costs of related administrative services. Currently, the CRF and IRF are both exempted from this assessment. This measure repeals these exemptions.

Your Committee made technical, nonsubstantive amendments to this measure to reflect preferred drafting style.

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. 2485, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2485, S.D. 1, and be referred to the Committee on Ways and Means.