Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2906 entitled:

begs leave to report as follows:

The purpose of this measure is to repeal the filing fee for the issuance of certificates of good standing.

Your Committee notes that in order to do business in the State, foreign entities, including corporations, nonprofit corporations, partnerships, limited liability partnerships, limited partnerships, and limited liability companies, are required to file a certificate of good standing with the Department of Commerce and Consumer Affairs. The present cost for the certificate in all cases is $25. To encourage foreign entities to engage in business in the State, this measure repeals the fee for the certificates.

Your Committee has amended this measure by reducing the cost of filing a certificate of good standing from $25 to $10, rather than repealing it altogether.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2906, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2906, S.D. 1.