STAND. COM. REP. NO. 1019_______

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 657
                                     H.D. 2

Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii


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


begs leave to report as follows:

     The purpose of this bill is to provide timeshare developers
alternatives to registration requirements to expedite sales by:

     (1)  Allowing the acceptance of an out-of-state time share
          plan that has been previously registered in another
          jurisdiction if that jurisdiction's registration
          requirements are deemed to exceed or be equal to those
          required by Hawaii; and

     (2)  Allowing the issuance of a six-month preliminary permit
          that would allow a developer to offer and sell time
          share interests before the developer's registration is
          accepted by the Department of Commerce and Consumer
          Affairs (DCCA).

     An individual testified in support of the measure.  DCCA
commented on the measure.

     Your Committee is concerned that a number of issues remain
unresolved, but believes that the bill has merit and further
discussion is warranted.  Your Committee has therefore amended
the effective date of the bill to July 1, 2010, to promote
further discussion.

                                 STAND. COM. REP. NO. 1019_______
                                 Page 2


     Other technical, nonsubstantive amendments were made for
purposes of style and clarity.

     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 H.B. No.
657, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 657, H.D. 2.

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

                                   DWIGHT Y. TAKAMINE, Chair