HI SB653

Amends Hawaii Revised Statutes Section 466K-1 to include references to 12 U.S.C. §3331 et seq. (Appraisal Management Company regulation provisions of FIRREA) alongside existing references to 12 U.S.C. §3301 et seq. in findings and purposes related to real estate appraiser regulation.

Updates Section 466K-3 to include 12 U.S.C. §3331 et seq. in the director's powers and duties regarding certification, rule adoption, enforcement, discipline, state representation, and advisory committee functions for real estate appraisers.

Requires the Department of Commerce and Consumer Affairs to analyze expanding the scope of Chapter 466K to regulate real estate appraisal management companies in compliance with FIRREA requirements, including implementation costs and financing methods.

Department must submit findings, recommendations, and proposed legislation to the legislature no later than twenty days before the 2012 regular legislative session convenes.

Takes effect upon approval.