STAND. COM. REP. NO.  436

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 847

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Economic Revitalization & Business, to which was referred H.B. No. 847 entitled:

 

"A BILL FOR AN ACT RELATING TO APPRAISALS,"

 

begs leave to report as follows:

 

     The purpose of this bill is to require, in certain arbitration proceedings where the arbitrator is a real estate appraiser, the record of an award to include findings of fact, the appraiser's rationale for the award, and information regarding the evidence that provided the basis for the award.

 

     Sony Hawaii, Citizens for Fair Valuation, Bacon Universal Company, Inc., and several concerned individuals supported this bill.  The Hawaii Chapter of the Appraisal Institute opposed this bill.

 

     Your Committee has amended this measure by:

 

     (1)  Changing its effective date to July 1, 2112, to encourage further discussion; and

 

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


     As affirmed by the record of votes of the members of your Committee on Economic Revitalization & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 847, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 847, H.D. 1, and be referred to the Committee on Judiciary.

 

Respectfully submitted on behalf of the members of the Committee on Economic Revitalization & Business,

 

 

 

 

____________________________

ANGUS L.K. MCKELVEY, Chair