STAND. COM. REP. NO.  1431

 

Honolulu, Hawaii

                , 2019

 

RE:   S.B. No. 552

      S.D. 1

      H.D. 1

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

 

Sir:

 

     Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 552, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO CONDOMINIUMS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to extend the safe harbor provisions found in section 45 of Act 181, Session Laws of Hawaii 2017, until July 1, 2020, to provide sufficient time for condominium property regimes to update their developer's public reports.  Act 181 addresses requirements for developer's public reports for condominium property regimes that were issued an effective date pursuant to the now-repealed sections 514A-40 and 514A-41, Hawaii Revised Statutes, and formerly regulated pursuant to chapter 514A, Hawaii Revised Statutes.  This measure also clarifies that sales of time share interests shall be permitted regardless of compliance with requirements to conform developer's public reports and related documents pursuant to Act 181.

 

     The Real Estate Commission, Associa, American Resort Development Association Hawaii, and a few individuals submitted testimony in support of this measure.

 

     Your Committee has amended this measure to conform to the language and structure of its companion measure H.B. No. 811, H.D.2.  Your Committee has further amended this measure by:

 

     (1)  Changing its effective date to July 1, 2050, to facilitate further discussion; and

 

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 552, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 552, S.D. 1, H.D. 1, and be referred to your Committee on Judiciary.

 

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

 

 

 

____________________________

ROY M. TAKUMI, Chair