HB 550 Summary

• Directs the state auditor to analyze how cable operator franchise fees are allocated to public, education, and government access organizations; the Hawaii Public Television Foundation; and the department of commerce and consumer affairs' cable television division for fiscal years 2008-2010.

• Requires the auditor to review financial, technical, and operational reports submitted by 'Ōlelo Community Television from 2005-2010 and the most recent independent third-party review of the organization's finances and operations.

• Mandates the auditor determine whether current statutory reporting requirements are sufficient for effective oversight of 'Ōlelo Community Television and recommend whether a more extensive financial and performance audit is necessary.

• Requires the auditor to submit findings and recommendations to the legislature no later than twenty days before the 2012 regular session convenes.

• Effective date: July 1, 2011.