STAND. COM. REP. NO. 895

Honolulu, Hawaii

RE: S.B. No. 1104

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1104 entitled:

"A BILL FOR AN ACT RELATING TO THE CONTRACTORS RECOVERY FUND,"

begs leave to report as follows:

The purpose and intent of this measure is to increase the monetary amount that an injured homeowner may recover from the Contractors Recovery Fund and the maximum liability of the fund for any licensed contractor.

Your Committee received written comments in support of this measure from the Contractors License Board.

Your Committee received written comments in opposition to this measure from the Building Industry Association Hawaii and Subcontractors Association of Hawaii.

Your Committee finds that an increase in construction costs throughout the State has resulted in homeowners being unable to recoup certain financial losses. Your Committee believes that increasing the monetary amount that an injured homeowner may recover from the Contractors Recovery Fund will help to ensure that injured homeowners are better able to recoup these financial losses.

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. 1104 and recommends that it pass Third Reading.

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

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DONOVAN M. DELA CRUZ, Chair