Bill Text: HI HB846 | 2012 | Regular Session | Amended

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Bill Title: Real Estate Appraisal Arbitration; Uniform Standards of Professional Appraisal Practice

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [HB846 Detail]

Download: Hawaii-2012-HB846-Amended.html

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STAND. COM. REP. NO.  437

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 846

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Economic Revitalization & Business, to which was referred H.B. No. 846 entitled:

 

"A BILL FOR AN ACT RELATING TO APPRAISALS,"

 

begs leave to report as follows:

 

     The purpose of this bill is to require a real estate appraiser to comply with the Uniform Standards of Professional Appraisal Practice when acting as an appraiser or as an arbitrator in an arbitration proceeding to determine the fair market value, fair market rental, or fair and reasonable rent of real estate.

 

     Citizens for Fair Valuation, Sony Hawaii, Bacon Universal Company, Inc., and numerous concerned individuals supported this bill.  The Professional and Vocational Licensing Division of the Department of Commerce and Consumer Affairs, Alexander & Baldwin, Inc., Land Use Research Foundation of Hawaii, and the Hawaii Chapter of the Appraisal Institute opposed this bill.  

 

     Your Committee notes that several concerns were raised during testimony regarding the provisions contained in this measure and respectfully requests your Committee on Consumer Protection and Commerce to address these concerns as this bill moves forward in the legislative process.

 

     Your Committee has amended this measure by:

 

     (1)  Changing its effective date to July 1, 2112, to encourage further discussion; and

 

     (2)  Making technical, nonsubstantive amendments for style, clarity, and consistency.

 

     As affirmed by the record of votes of the members of your Committee on Economic Revitalization & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 846, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 846, H.D. 1, and be referred to the Committee on Consumer Protection & Commerce.

 

Respectfully submitted on behalf of the members of the Committee on Economic Revitalization & Business,

 

 

		____________________________ ANGUS L.K. MCKELVEY, Chair