STAND. COM. REP. NO. 2558

Honolulu, Hawaii

RE: S.B. No. 524

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Commerce and Consumer Protection, to which was referred S.B. No. 524 entitled:

"A BILL FOR AN ACT RELATING TO BUSINESS REGULATION,"

begs leave to report as follows:

The purpose and intent of this measure is to amend the law relating to business regulation.

Prior to the hearing on this measure, your Committee posted and made available for public review a proposed S.D. 1, which amends this measure by deleting its contents and replacing it with language to authorize the Insurance Commissioner to require pre-approval for certain salary increases granted to any person receiving a salary from an insurer.

Your Committee has amended this measure by adopting the proposed S.D. 1 and further amending it by inserting legislative findings.

As affirmed by the record of votes of the members of your Committee on Commerce and Consumer Protection that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 524, as amended herein, and recommends that it be recommitted to your Committee on Commerce and Consumer Protection, in the form attached hereto as S.B. No. 524, S.D. 1, for further consideration.

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

________________________________

JARRETT KEOHOKALOLE, Chair