STAND. COM. REP. NO.  1578

Honolulu, Hawaii

                , 2013

RE:   S.B. No. 913

      S.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 913, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TIME SHARES,"

begs leave to report as follows:

The purpose of this measure is to conform the time share law to current sales and marketing practices while maintaining sufficient regulatory oversight by:

     (1)  Clarifying time requirements for disclosure of purchase price and additional charges to which a purchaser may be subject; and

     (2)  Clarifying prohibitions relating to promised promotional devices provided to prospective purchasers by sales agents.

Starwood Vacation Ownership, Wyndham Vacation Ownership, and a concerned individual testified in support of this measure.  The Department of Commerce and Consumer Affairs provided comments.

     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. 913, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair