STAND. COM. REP. NO. 967

Honolulu, Hawaii

, 2023

RE: H.B. No. 381

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 381, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO CONDOMINIUMS,"

begs leave to report as follows:

The purpose of this measure is to repeal the cutoff date established by Act 196, Session Laws of Hawaii 2018, that allowed the use of funds in the Condominium Education Trust Fund initially dedicated to support voluntary binding arbitration to be used for other educational purposes.

Your Committee received testimony in support of this measure from the Real Estate Commission; Palehua Townhouse Association; Legislative Action Committee of the Community Associations Institute, Hawai‘i Chapter; Hawai‘i Council of Associations of Apartment Owners; and four individuals.

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. 381, H.D. 2, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair