HI HCR207

Requests the State Auditor to conduct an analysis of the exchange accommodation profession in Hawaii pursuant to HRS Section 26H-6.

Identifies that exchange accommodators currently lack regulation in Hawaii despite holding clients' funds temporarily during Section 1031 tax-deferred property exchanges.

Cites recent reports of exchange accommodators misappropriating millions of dollars in client funds as justification for the analysis.

Requires the Auditor's analysis to assess probable effects of proposed regulatory measures and evaluate consistency with HRS Section 26H-6 policies.

Directs the Auditor to examine alternative forms of regulation for the exchange accommodation profession.