HOUSE OF REPRESENTATIVES

THE TWENTY-FOURTH LEGISLATURE

REGULAR SESSION OF 2008

COMMITTEE ON FINANCE

Rep. Marcus R. Oshiro, Chair

Rep. Marilyn B. Lee, Vice Chair

Rep. Karen Leinani Awana	Rep. Sharon E. Har	Rep. Bob Nakasone	Rep. Kymberly Marcos Pine
Rep. Della Au Belatti	Rep. Jon Riki Karamatsu	Rep. Karl Rhoads	Rep. Gene Ward, Ph.D.
Rep. Tom Brower	Rep. Michael Y. Magaoay	Rep. Roland D. Sagum, III
Rep. Mele Carroll	Rep. Joey Manahan	Rep. James Kunane Tokioka
Rep. Faye P. Hanohano	Rep. John Mizuno	Rep. Colleen Rose Meyer

NOTICE OF HEARING

DATE:

FRIDAY, February 22, 2008

TIME:

12:00 P.M.

PLACE:

Conference Room 308

State Capitol

415 South Beretania Street

A G E N D A # 3

MAKING AN APPROPRIATION TO THE CITY AND COUNTY OF HONOLULU.

Appropriates funds to the city and county of Honolulu for the development of a data encryption system.

CPC, FIN

RELATING TO UNCLAIMED PROPERTY.

Allows individuals attempting to claim certain unclaimed property from the State to assert ownership through a notarized affidavit signed under penalty of perjury.

CPC/JUD, FIN

RELATING TO MORTGAGES.

Requires mortgage foreclosure rescuers to provide specific information and disclosures to distressed property owners and imposes specific prohibitions on mortgage foreclosure rescuers.

CPC/JUD, FIN

RELATING TO ELECTRONIC FILINGS IN THE BUREAU OF CONVEYANCES AND THE OFFICE OF THE ASSISTANT REGISTRAR.

Authorizes the Registrar and Assistant Registrar of the Bureau of Conveyance to accept electronic signatures and electronically filed documents in lieu of an original document with original signatures.

CPC/JUD, FIN

RELATING TO INSURANCE.

Enacts the Life Settlements Model Act, which establishes consumer protections in life settlement transactions where the owner of a life insurance policy transfers the death benefit for compensation that is less than the expected death benefit, but more than the surrender value of the policy.

CPC, FIN

RELATING TO INSURANCE.

Clarifies that the income or gross receipts derived from the principal business of an attorney-in-fact for a reciprocal insurer are exempt from the general excise tax.

CPC, FIN

RELATING TO PROPERTY OF PUBLIC UTILITIES.

Grants public utilities the authority to transfer, assign, or otherwise dispose of property, except real property, without prior approval from the Public Utilities Commission, under circumstances calling for timely, decisive action in order to aid a customer whose operations have been disrupted due to unforeseeable events.

CPC, FIN

DECISION MAKING TO FOLLOW

Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing with a transmittal cover indicating:

· Testifier's name with position/title and organization;

· The date and agenda no. of the hearing;

· Measure number;

· If you will be testifying in person or submitting written testimony only;

· The Committee the comments are directed to; and

· The number of copies the Committee is requesting.

While every effort will be made to copy, organize, and collate all testimony received, materials received on the day of the hearing or improperly identified or directed to the incorrect office, may be distributed to the Committee after the hearing.

Submit testimony in ONE of the following ways:

PAPER: 2 copies to Room 306 in the State Capitol. It is required that the copies be on one side of an 8½ " X 11" sheet;

FAX: For comments less than 5 pages in length, transmit to 586-6001 (Oahu) or 1-800-535-3859 (Neighbor Islands);

EMAIL: For comments less than 5 pages in length, transmit to FINtestimony@Capitol.hawaii.gov. Please include the measure number, date of hearing, and agenda no. in the subject line or click on the appropriate "Email Testimony" link above.

Testimony submitted will be placed on the Legislative Web site after the hearing adjourns. This public posting of testimony on the Web site should be considered when including personal information in your testimony.

If you require special assistance or auxiliary aids and/or services to participate in the House public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the Committee Clerk at 586-6200 or email your request for an interpreter to HouseInterpreter@Capitol.hawaii.gov at least 24 hours prior to the hearing for arrangements. Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.

Selected meetings are broadcast live. Check the current legislative broadcast schedule on the "Capitol TV" Web site at www.capitoltv.org OR call 550-8074.

________________________________________

Rep. Marcus R. Oshiro

Chair