STAND. COM. REP. NO. 320
Honolulu, Hawaii
, 2005
RE: H.B. No. 99
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 99 entitled:
"A BILL FOR AN ACT RELATING TO BUSINESS,"
begs leave to report as follows:
The purpose of this bill is to reduce filing fees charges by the Department of Commerce and Consumer Affairs for:
(1) Registration of mutual funds sold in the state from $200 to $100;
(2) Notice filing of Securities and Exchange Form D for private placement of securities from $200 to $100; and
(3) Registration of securities sold by qualification in the state by reducing the minimum filing fee and maximum filing fee cap from $250 and $2,500, to $100 and $1,000, respectively.
The Chamber of Commerce of Hawaii testified in support of this bill. DCCA Business Registration Division supported the intent of this bill.
Your Committee finds that this bill will help to lower the cost of doing business in Hawaii.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 99 and recommends that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
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____________________________ KENNETH HIRAKI, Chair |
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