STAND. COM. REP. NO.  913-08

 

Honolulu, Hawaii

                , 2008

 

RE:   H.B. No. 2302

      H.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 2302, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO REAL PROPERTY,"

 

begs leave to report as follows:

 

     The purpose of this bill is to enable electronic records and signatures for the memorializing of a multitude of transactions, including basic real estate transactions by:

 

     (1)  Permitting the Registrar of the Bureau of Conveyances to accept electronic documents with electronic signatures for recording; and

 

     (2)  Requiring the Judiciary to study what effect electronic recording may have on the adjudication of land court applications, and permissible uses for electronic recording.

 

     The Commission to Promote Uniform Legislation, Wyndham Worldwide, American Resort Development Association – Hawaii, Escrow Association of Hawaii, and Hilton Grand Vacations, Hawaii – Asia Region supported this bill.  The Judiciary, Department of Land and Natural Resources, Representative of the 24th District, Hawaii Government Employees Association, and Hawaii Association of Realtors submitted comments.

 

 

     Your Committee has amended this bill by:

 

(1)  Authorizing the Registrar of the Bureau of Conveyances to use electronic archiving for certain sketches, blueprints, and plans; and

 

(2)  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 H.B. No. 2302, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2302, H.D. 2.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair