STAND. COM. REP. NO. 2130

Honolulu, Hawaii

, 2023

RE: S.B. No. 729

S.D. 1

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 729, S.D. 1, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO BOARD MEMBERS,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Require the Auditor to conduct a sunrise analysis on proposed regulatory controls for members of condominium association boards of directors; and

(2) Require the Real Estate Commission to develop a curriculum to be made available to board members of a condominium association and submit a report to the Legislature on the progress on the development of the curriculum.

Your Committee received testimony in support of this measure from the Palehua Townhouse Association, Hawaii Council of Associations of Apartment Owners, Hui ‘Oia‘i‘o, and three individuals. Your Committee received testimony in opposition to this measure from the Honolulu Tower Association of Apartment Owners Board of Directors and two individuals. Your Committee received comments on this measure from the Office of the Auditor; Hawai‘i Real Estate Commission; Chamber of Sustainable Commerce; AOAO Lakeview Sands; Legislative Action Committee of the Community Associations Institute, Hawaii Chapter; and nine individuals.

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. 729, S.D. 1, H.D. 2, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair