STAND. COM. REP. NO.  877

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 1306

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Judiciary, to which was referred H.B. No. 1306, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENHANCED PENALTIES FOR SECURITIES VIOLATIONS COMMITTED AGAINST ELDERS,"

begs leave to report as follows:

     The purpose of the bill is to establish enhanced administrative and civil penalties for securities violations committed against elders.

     Your Committee received testimony in support of this bill from the Department of Commerce and Consumer Affairs Business Registration Division.  AARP Hawaii supported the intent of this measure.

     Your Committee amended the bill by:

     (1)  Changing the effective date to January 1, 2112, to encourage further discussion; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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. 1306, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1306, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Judiciary,

____________________________

TOMMY WATERS, Chair