STAND. COM. REP. NO. 1301

Honolulu, Hawaii

, 2005

RE: S.B. No. 1129

S.D. 2

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1129, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

The purpose of this bill is to:

(1) Reduce the reimbursement amount under the Loss Mitigation Grant Program from 50 percent to 35 percent of cost for wind resistive devices;

(2) Include safe rooms within the definition of wind

resistive devices;

(3) Repeal reimbursement for inspections of wind resistive

devices; and

(4) Appropriate $1,000,000 from the Hawaii Hurricane Relief Fund (HHRF) to the Loss Mitigation Grant Fund.

A concerned individual supported this bill. The Department of Defense supported the intent of this measure. The Board of Directors of the HHRF opposed this bill. The Department of Budget and Finance does not support this measure.

Your Committee has amended this bill by:

(1) Deleting the appropriation amounts;

(2) Changing the effective date to July 1, 2010, to encourage further discussion; and

(3) Making technical, nonsubstantive changes for clarity, consistency, and style.

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. 1129, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1129, S.D. 2, H.D. 1, and be placed on the calendar for Third Reading.

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

 

____________________________

DWIGHT TAKAMINE, Chair