HI SCR193

Requests the Department of Commerce and Consumer Affairs to evaluate registration, reporting, and transparency requirements for self-settled asset protection trusts formed under Chapter 554G, Hawaii Revised Statutes, and other large private trusts.

The Department of Taxation has confirmed that Chapter 554G trusts are not currently tracked or classified, limiting the State's ability to assess their number, assets, fiscal implications, or economic impact.

Directs DCCA to identify existing regulatory requirements for these trusts, evaluate whether current law allows for registration or periodic reporting of large private trusts, and assess whether statutory amendments are needed for trusts exceeding specified asset thresholds.

Requires DCCA to submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days prior to the Regular Session of 2027.