STAND. COM. REP. NO.  1591-16

 

Honolulu, Hawaii

                , 2016

 

RE:   S.B. No. 2910

      S.D. 2

      H.D. 1

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred S.B. No. 2910, S.D. 2, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO TIME SHARE COMMISSIONERS OF DEEDS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to assist in the implementation of the Time Share Commissioners of Deeds Program (Program).

 

     Specifically, this measure, among other things:

 

(1)  Clarifies the Lieutenant Governor's rulemaking authority and responsibility with respect to the Program;

 

(2)  Authorizes the Lieutenant Governor to assess and collect fees and administrative fines for the Program;

 

(3)  Increases the surety bond and cash bond requirement for Commissioners of Deeds; and

 

(4)  Appropriates funds for a Commissioner of Deeds specialist and expenses related to establishing and administering the Program.


     The Office of the Lieutenant Governor, Department of the Attorney General, Department of Commerce and Consumer Affairs, Department of Land and Natural Resources, Starwood Vacation Ownership, American Resort Development Association, Wyndham Vacation Ownership, and ARDA Hawaii testified in support of this measure.

 

     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. 2910, S.D. 2, H.D. 1, and recommends that it pass Third Reading.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair