STAND. COM. REP. NO. 1489

Honolulu, Hawaii

, 2001

RE: H.B. No. 17

H.D. 2

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred H.B. No. 17, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TIME SHARE PROJECTS,"

begs leave to report as follows:

The purpose of this measure is to eliminate the disclosure requirements and rescission rights under Hawaii's condominium sales laws when similar disclosure requirements and rescission rights exist under Hawaii's laws governing time shares.

Your Committee received testimony in support of this measure from the Real Estate Commission, Hilton Grand Vacations Club, the American Resort Development Association of Hawaii, Pahio Resorts, Inc., the Land Use Research Foundation of Hawaii, and Hawaii Resort Developers Conference. A concerned citizen submitted comments.

Your Committee finds that the disclosure requirements and rescission rights provided by chapter 514E, Hawaii Revised Statutes (HRS), ("Time Sharing Plans"), provide adequate protection to consumers seeking to vacation in paradise.

Your Committee further finds the disclosure requirements and rescission rights under chapter 514A, HRS, ("Condominium Property Regimes"), are substantially similar to those contained in chapter 514E, HRS.

Your Committee agrees that when a developer has complied with the requirements of chapter 514E, HRS, there is no need to require duplicative disclosures and rescission rights under chapter 514A, HRS.

Your Committee amended this measure by setting forth in full the unamended portions of section 514A-62, HRS, and placing the new material in that section at the end of the section as a new subsection.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 17, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 17, H.D. 2, S.D. 2.

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

____________________________

RON MENOR, Chair