STAND. COM. REP. NO.  45

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 139

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 139 entitled:

 

"A BILL FOR AN ACT RELATING TO REAL ESTATE APPRAISERS,"

 

begs leave to report as follows:

 

     The purpose of this bill is to provide for state regulation of real estate appraisal management companies to comply with the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.  This measure also requires the Department of Commerce and Consumer Affairs (DCCA) to report to the Legislature on the impact of these added regulatory responsibilities, including the costs of implementation and means of financing.

 

     DCCA and the Hawaii Chapter of the Appraisal Institute testified in support of this measure.

 

     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 H.B. No. 139 and recommends that it pass Second Reading and be referred to the Committee on Judiciary.

 

 

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

 

 

 

 

____________________________

ROBERT N. HERKES, Chair