Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred H.B. No. 2417 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the Real Estate Commission to enter into a license recognition agreement with another state or jurisdiction that is recognized by the Association of Real Estate License Law Officials (ARELLO) and whose real estate licensing law is equivalent to Hawaii's real estate licensing law.

The Real Estate Commission and Hawaii Association of Realtors testified in support of this measure.

Your Committee finds that, increasingly, real estate transactions are being conducted over the internet, fax, and telephone, and involve real property or real estate professionals situated in other states and countries. This measure will facilitate such transactions by allowing for the State's recognition of another jurisdiction's license, and for another jurisdiction's recognition of a Hawaii license, if the other jurisdiction's program is recognized by ARELLO and is equivalent to Hawaii's licensing program.

Your Committee further finds that thirty-eight states have entered into license recognition or reciprocity agreements, and the use of such agreements has resulted in greater cooperation, assistance, and exchange of information between the participating jurisdictions.

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. 2417, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.