STAND. COM. REP. NO.  1655

Honolulu, Hawaii

                , 2009

RE:   S.B. No. 1107

      S.D. 2

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 1107, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CONDOMINIUMS,"

begs leave to report as follows:

     The purpose of this bill is to enable the Real Estate Commission to administer its condominium education programs more efficiently by merging the Condominium Management Education Fund into the Condominium Education Trust Fund.

     The Hawaii Council of Associations of Apartment Owners and Hawaii Independent Condominium & Cooperative Owners supported this measure.  The Real Estate Commission offered comments.

     Your Committee has amended this bill by making technical, nonsubstantive amendments for consistency, style, and clarity.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1107, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1107, S.D. 2, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair