STAND. COM. REP. NO. 823-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 2641

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2641, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO APPRAISAL MANAGEMENT COMPANIES,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Reestablish the Appraisal Management Company Registration Program within the Department of Commerce and Consumer Affairs to begin on September 30, 2024; and

(2) Appropriate funds.

Your Committee received testimony in support of this measure from the Hawai‘i Association of REALTORS. Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs; Real Estate Valuation Advocacy Association; Hawaii Bankers Association; Mortgage Bankers Association of Hawaii; and Hawaii Financial Services Association.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2641, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

KYLE T. YAMASHITA, Chair