STAND. COM. REP. NO. 844

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 522

       S.D. 2

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 522, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO LAND COURT,"

 

begs leave to report as follows:

 

     The purpose of this measure is to assist the counties to more accurately determine real property tax assessments.

 

Specifically, this measure requires the Assistant Registrar of the Land Court to provide within ten days, an image and index of all instruments that contain real property transactions relating to registered land in all the counties each week to the administrator of the City and County of Honolulu's Real Property Assessment Division.  The administrator shall then provide copies of the images, without charge, to the real property assessment administrators of the other counties.  The measure also provides for unforeseen, technical malfunctions that may delay the transfer beyond ten days.

 

     Your Committee received one written comment on the measure.  Copies of written comments submitted are available for review on the Legislature’s website.

 

     Your Committee finds that this measure will allow the counties to better track property ownership, encumbrances, restrictions, uses, and sales prices of real property.  Your Committee believes that expediting and sharing this information will increase the efficiencies and provide more timely and accurate real property tax assessments.

 

     Your Committee has amended this measure by making technical, nonsubstantive amendments for the purpose of clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 522, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 522, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DONNA MERCADO KIM, Chair