Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Judiciary, to which was referred H.B. No. 626 entitled:

begs leave to report as follows:

The purpose of this bill is to repeal the escheatment of unclaimed property to the State.

The Department of Budget and Finance testified in support of this bill.

Your Committee finds that this measure will allow the State to serve in perpetuity as the custodian of unclaimed funds and allow rightful property owners to claim their property without time constraints.

As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 626 and recommends that it pass Second Reading and be referred to the Committee on Finance.