STAND. COM. REP. NO. 3286

Honolulu, Hawaii

RE: H.B. No. 2481

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Commerce and Consumer Protection, to which was referred H.B. No. 2481, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TIME SHARE COMMISSIONERS OF DEEDS,"

begs leave to report as follows:

The purpose and intent of this measure is to repeal chapter 503B, Hawaii Revised Statutes, governing Time Share Commissioners of Deeds.

Your Committee received testimony in support of this measure from the Office of the Lieutenant Governor.

Your Committee finds that Act 277, Session Laws of Hawaii 2013, created the Time Share Commissioners of Deeds (codified as chapter 503B, Hawaii Revised Statutes), to increase efficiency and convenience for foreign buyers that purchase Hawaii time share properties and to boost the State's tourism industry. The Time Share Commissioners of Deeds were to be appointed by the Lieutenant Governor to administer oaths and take acknowledgements and proofs of deeds and other instruments used in connection with the recordation of time share interests in Hawaii. However, your Committee finds that Act 54, Session Laws of Hawaii 2020, updated certain laws relating to notaries public and added a new section for notarial acts performed for remotely located individuals, such as foreign buyers of Hawaii time share properties, and has therefore made the Time Share Commissioners of Deeds unnecessary. Accordingly, this measure repeals the state law governing Time Share Commissioners of Deeds, to eliminate the statutory redundancy.

Your Committee has amended this measure by inserting an effective date of July 1, 2040, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Commerce and Consumer Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2481, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2481, H.D. 1, S.D. 1, and be referred to your Committee on Judiciary.

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

________________________________

JARRETT KEOHOKALOLE, Chair