S.C.R. 197 Summary

• Department of Commerce and Consumer Affairs requested to convene a working group to conduct comprehensive review of Hawaii's time share plan rules and regulations

• Working group membership includes Director of DCCA (as chairperson), Time Share Administrator, representative from American Resort Development Association, and representative from title and escrow services companies licensed in Hawaii

• Working group directed to consider time share consultant requirements, escrow bond usage, ministerial review processes, registration expiration procedures, review timelines ("shot clock" provisions), title exception disclosures, and whether Chapter 514E of Hawaii Revised Statutes requires comprehensive rewrite

• Working group terminates June 30, 2020 and must submit findings, recommendations, and proposed legislation to legislature no later than twenty days before Regular Session of 2020

• Resolution recognizes time share industry as important tourism component generating substantial tax revenue and notes existing laws may be outdated or unduly burdensome