CONFERENCE COMMITTEE REP. NO. 63

Honolulu, Hawaii

, 2021

RE: S.B. No. 385

S.D. 1

H.D. 2

C.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 385, S.D. 1, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIFORM TRUST CODE,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to:

(1) Enact the 2018 Uniform Trust Code; and

(2) Repeal the Uniform Trustees' Powers Act, Uniform Prudent Investor Act, and laws regarding trust administration under the Uniform Probate Code.

Your Committee on Conference finds that to date, the Uniform Trust Code has been enacted by thirty-four states and the District of Columbia. Your Committee on Conference further finds that this piece of uniform legislation standardizes the law of trusts so that parties across a diverse range of jurisdictions can rely on the same governing principles. This measure will update Hawaii statutes relating to trusts and bring them under one comprehensive umbrella, which will significantly reduce the time, complexity, and expense of trust proceedings.

Your Committee on Conference has amended this measure by inserting an effective date of January 1, 2022.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 385, S.D. 1, H.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 385, S.D. 1, H.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

____________________________ SCOT Z. MATAYOSHI Co-Chair	____________________________ KARL RHOADS Chair
____________________________ AARON LING JOHANSON Co-Chair
____________________________ LISA MARTEN Co-Chair