STAND. COM. REP. NO.  1873

Honolulu, Hawaii

                , 2009

RE:   S.C.R. No. 53

      S.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred S.C.R. No. 53, S.D. 1, entitled:

"SENATE CONCURRENT RESOLUTION REQUESTING THE AUDITOR TO CONDUCT A SUNRISE REVIEW OF THE REGULATION OF REAL ESTATE APPRAISAL MANAGEMENT COMPANIES,"

begs leave to report as follows:

     The purpose of this concurrent resolution is to request that the Auditor perform a sunrise review of real estate appraisal management companies and assess whether the enactment of the regulatory measure contained in S.B. No. 1606 is consistent with the policies set forth in section 26H-2, Hawaii Revised Statutes.

     The Real Estate Commission and the Hawaii Association of Realtors submitted testimony in support.  The Appraisal Institute, Hastings, Conboy, Braig & Associates, Ltd., John Child & Company, and ACM Consultants, Inc. submitted testimony with comments on this concurrent resolution.

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 53, S.D. 1, and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ROBERT N. HERKES, Chair