STAND. COM. REP. NO. 3426

Honolulu, Hawaii

RE:    H.B. No. 2372

       H.D. 2

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 2372, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TIME SHARE PLANS,"

begs leave to report as follows:

     The purpose of this measure is to streamline purchases of time share interests from the same developer by existing owners, by exempting certain purchases from the requirements of chapter 514E, Hawaii Revised Statutes.

     The American Resort Development Association, Group RCI, Wyndham Worldwide, and Marriott International, Inc. submitted testimony in support of this measure.  The Department of Commerce and Consumer Affairs submitted comments.

     Your Committee finds that this measure will allow the sale of additional interests in timeshare plans that are not registered in Hawaii to existing owners in Hawaii without the satisfaction of all of the state registration requirements, but with substantive safeguards for consumer protection.

     Upon further consideration, your Committee has amended this measure by making technical nonsubstantive changes for the purposes of clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2372, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2372, H.D. 2, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

ROSALYN H. BAKER, Chair