CONFERENCE COMMITTEE REP. NO. 47

Honolulu, Hawaii

, 2023

RE: H.B. No. 1027

H.D. 2

S.D. 1

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1027, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO MONEY TRANSMITTERS MODERNIZATION ACT,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to align the State's Money Transmitters Modernization Act with the provisions of the Model Money Transmission Modernization Act to enable the State to work within a network of states to license, supervise, and examine transglobal money transmission companies as a multi-state system of financial regulation.

Your Committee on Conference has amended this measure by:

(1) Changing the effective date to July 1, 2023; and

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

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1027, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1027, H.D. 2, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ JARRETT KEOHOKALOLE Chair	____________________________ DANIEL HOLT Co-Chair
	____________________________ MARK M. NAKASHIMA Co-Chair