(1) Requires the Real Estate Commission to submit a final report of the review, including findings and recommendations, and draft legislation to the Legislature no later than twenty days prior to the convening of the Regular Session of 2004;

(2) Expands membership of the Recodification Advisory Committee to include representatives from the Hawaii Council of Associations of Apartment Owners, Hawaii Independent Condominium and Cooperative Owners, Community Associations Institute-Hawaii Chapter, Hawaii Association of Realtors, and the Condominium Council of Maui;

(3) Requires the Recodification Advisory Committee to meet to review the final version of the recodification draft to be presented at public hearings and to meet again after the public hearings to review data from the hearings and to make recommendations to the Real Estate Commission before the final recodification draft is submitted to the Legislature; and

(4) Appropriates $95,000 from the Condominium Management Education Fund to cover the cost of completing the comprehensive review of condominium property regimes law and to continue the full-time temporary condominium specialist position in the Department of Commerce and Consumer Affairs for one year.