STAND. COM. REP. 3164
Honolulu, Hawaii
, 2004
RE: S.C.R. No. 93
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 S.C.R. No. 93 entitled:
"SENATE CONCURRENT RESOLUTION REQUESTING THE AUDITOR TO CONDUCT A SUNRISE REVIEW OF THE REGULATION OF MONEY TRANSMITTERS,"
begs leave to report as follows:
The purpose of this measure is to authorize a sunrise review of the regulation of money transmitters.
The Department of Commerce and Consumer Affairs testified in support of this measure.
S.B. No. 2903, S.D. 2, H.D. 1 (2004), which proposes the regulation of money transmitters, is subject to the requirements of the Hawaii Regulatory Licensing Act (Act). The Act requires measures that propose to establish the regulation of an unregulated profession or vocation to first be referred to the Auditor for an analysis, commonly known as a "sunrise review". The purpose of the analysis is to examine the probable effects of regulation and to assess whether regulation is consistent with the State's regulatory policies. Your Committee finds that this measure authorizes the mandatory sunrise review.
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 concurs with the intent and purpose of S.C.R. No. 93 and recommends its adoption.
Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,
____________________________ RON MENOR, Chair |
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