HB 2315 Summary

• Allows the contractors license board and real estate commission to adjust, reduce, suspend, or cease collection of recovery fund and education fund fees to maintain reasonable relation between fees generated and cost of services rendered.

• Removes fixed funding level caps ($420,893 for contractors recovery fund, $1,713,510 for real estate education fund, $481,799 for real estate recovery fund, and $1,819,971 for condominium education trust fund) that previously triggered automatic fee suspension or refund processes.

• Requires boards and commissions to conduct biennial reviews considering revenue timing, reserve amounts, anticipated expenses, natural disasters, and statutory payout adjustments when determining appropriate fund balances.

• Establishes that boards and commissions shall determine fund balance caps biennially rather than having fixed statutory limits.

• Effective July 1, 2020, superseding provisions of Act 29, Session Laws of Hawaii 2019.