Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection, and Housing, to which was referred S.B. No. 2193 entitled:

begs leave to report as follows:

The purpose of this measure is to require planned community associations to maintain financial statements and other financial information at a convenient location for examination by any member, for the duration that those statements and information are kept by the association.

Your Committee received testimony in support of this measure from two individuals. Testimony in opposition was received from Community Associations Institute-Hawaii Chapter and Mililani Town Association.

Your Committee finds that members of these associations should have access to this financial information.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion.

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 S.B. No. 2193, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2193, S.D. 1, and be placed on the calendar for Third Reading.