STAND. COM. REP. NO.3012
RE: H.B. No. 2465
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Commerce, Consumer Protection and Housing, to which was referred H.B. No. 2465, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS,"
begs leave to report as follows:
The purpose of this measure is to merge the Insurance Regulation Fund into the Compliance Resolution Fund.
Testimony supporting this measure was received from the Department of Commerce and Consumer Affairs and the State Insurance Commissioner.
Your Committee finds that the merger of the Insurance Regulation Fund into the Compliance Resolution Fund will provide greater flexibility and efficiency in the administration of departmental funds while not affecting the Department of Commerce and Consumer Affairs' regulatory role, authority, or responsibilities.
Your Committee has amended this measure by replacing its contents with the Senate version, S.B. No. 2723, S.D. 1, which makes technical, nonsubstantive amendments to reflect preferred drafting style, and does not attempt to amend section 431-2:216(a), Hawaii Revised Statutes, twice in the same manner.
As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2465, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2465, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,
RON MENOR, Chair