HB2854 SD1

Report Title:

CPA; Licensing

 

Description:

Clarifies that one can take the CPA examination with 120 hours of education while it takes 150 hours of education to be licensed as a CPA. (SD1)

HOUSE OF REPRESENTATIVES	H.B. NO.	2854
TWENTY-FIRST LEGISLATURE, 2002		H.D. 1
STATE OF HAWAII		S.D. 1

A BILL FOR AN ACT

 

relating to accountancy.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 466-5.5, Hawaii Revised Statutes, is amended to read as follows:

"[[]§466-5.5[]] Educational requirements for [examination and] licensure effective December 31, 2000. (a) Effective December 31, 2000, an applicant for [the Uniform Certified Public Accountant Examination] licensure shall have at least one-hundred-fifty semester hours of college education. Within the one-hundred-fifty semester hours, the applicant shall have:

(1) A baccalaureate or higher degree conferred by a college or university acceptable to the board; and

(2) An accounting concentration or its equivalent as specified in the rules of the board;

[except that examination applicants holding conditional credit for the Uniform Certified Public Accountant Examination before December 31, 2000, may continue to meet the educational requirements provided in section 466-5(f) until such time as the conditional credit expires.

(b) Effective December 31, 2000, an applicant shall meet the educational requirements of subsection (a) to obtain a certified public accountant license,] except that applicants for licensure who have successfully completed the Uniform Certified Public Accountant Examination before December 31, 2000, or held conditional credit before December 31, 2000, and subsequently completed the examination before the conditional credit expired, may continue to meet the educational requirements of section 466-5(b)."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.