Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Judiciary and Hawaiian Affairs, to which was referred H.B. No. 1155, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to allow the Director of Budget and Finance to provide public notice of abandoned property by posting on the State of Hawaii internet website and by publication in a daily or weekly publication of statewide circulation.

Your Committee received testimony in support of this measure with requested amendments from the Department of Budget and Finance.

Your Committee finds that the unclaimed property law requires all holders of abandoned property to report the names of owners of abandoned property to the Unclaimed Property program by November 1 each year. The names and last known addresses of owners of property valued at $100 or more are then published by March 1 of each year.

Your Committee further finds that the annual notice contains approximately 7,000 names, and costs approximately $150,000 for publication in a newspaper in each county. The Department proposes cost savings measures by publishing a notice in county newspapers or a newspaper of statewide circulation informing the public that the names of owners of abandoned property are available on its website along with a toll free telephone number. Additionally, a hard copy list will be available in fifteen public libraries and at the University of Hawaii.

Your Committee believes that this measure reduces publication costs by using modern technology while preserving public notification. Your Committee amended the bill at the Departments request by:

As affirmed by the record of votes of the members of your Committee on Judiciary and Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1155, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1155, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.