STAND. COM. REP. NO. 707

Honolulu, Hawaii

RE:    S.B. No. 521

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 521, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO REAL PROPERTY,"

begs leave to report as follows:

     The purpose of this measure is to enable the counties to track real property transactions in the Bureau of Conveyances to more accurately determine real property tax assessments.

     Specifically, this measure requires the registrar of the Bureau of Conveyances to provide, on a weekly basis, to the administrator of the Real Property Assessment Division of the City and County of Honolulu, an image and index of all instruments and documents relating to land in all counties that were recorded in the registrar's office during the previous week.  The administrator of the Real Property Assessment Division of the City and County of Honolulu is required to provide the relevant images and indexes, free of charge, to the other counties as appropriate.

     Your Committee finds that the Bureau of Conveyances has access to information on all real property transactions statewide, and as such, has the ability to provide timely and accurate real property information.

     Your Committee further finds that requiring the State to provide up-to-date reports of real property recordations to the counties will enable the counties to provide more accurate and timely real property tax assessments.  Your Committee also believes that the weekly reports required by this measure will assist the counties in maintaining accurate records of ownership and encumbrances and in providing prompt public notice of zoning and land use changes.

     Your Committee has amended this measure by making technical nonsubstantive amendments for the purposes of clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 521, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 521, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONNA MERCADO KIM, Chair