STAND. COM. REP. NO. 1756-24

Honolulu, Hawaii

, 2024

RE: S.B. No. 3236

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 S.B. No. 3236, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE LAND TRUST ACT,"

begs leave to report as follows:

The purpose of this measure is to clarify that if no personal property designation appears in a recorded instrument relating to the Land Trust Act, the interests of the beneficiaries shall be real property.

Your Committee received testimony in support of this measure from the Department of Hawaiian Home Lands.

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 S.B. No. 3236, 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