RELATING TO INSURANCE.
Summary
Requires the Insurance Commissioner to study the feasibility of the mutual insurance model for condominium associations and submit a report to the Legislature. Effective 7/1/3000. (HD1)
Bill status
in committee
3 of 5 stages cleared
Introduction
Jan 2025
Committee Review
Feb 2025
House Passage
Feb 2025
Senate Passage
Governor
Introduced Jan 17, 2025
Last action Feb 14, 2025
Maddy AI version diff · 1 comparison
What changed between versions
HB490
→
HB490_HD1
·
4 edits
MODERATE
The bill was significantly simplified and narrowed in scope. The original version required the Insurance Commissioner to develop detailed standards for self-insurance and mutual insurance programs, including specific financial requirements and a study on guaranteed buyback programs. The revised version removes the self-insurance and buyback program requirements entirely, focusing solely on studying the feasibility of a mutual insurance model, including out-of-state options.
Scope change
The bill's scope was reduced from a broad mandate to create new insurance program standards to a narrower study focused exclusively on mutual insurance feasibility.
REQUIREMENT
Removed requirements for the Insurance Commissioner to develop comprehensive standards for self-insurance and mutual insurance programs, including financial and maintenance requirements.
Removed the requirement to examine and evaluate guaranteed buyback programs and investment-based protection funds for condominiums.
Changed the Insurance Commissioner's mandate from developing standards to only studying the feasibility of mutual insurance models, including joining out-of-state mutual insurance companies.
TIMELINE
Changed the effective date from 'upon approval' to 'July 1, 3000', which is likely a placeholder or error indicating the bill is not intended to take effect immediately.
Floor votes · House Feb 14, 2025
How they voted
47–0
Passed · 4 other
Total votes 51
Feb 14, 2025
D
Democratic41
95% Yea
R
Republican10
80% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
10
Key actions
2
Committee
3
Feb 14, 2025
Committee
Reported from CPC (Stand. Com. Rep. No. 783) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
lower
Feb 14, 2025
House · Passed
House Vote: pass (47-0-4)
house
Feb 12, 2025
Lower · Passed
The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Chun, Ilagan, Ichiyama, Iwamoto, Kong, Marten, Pierick; Ayes with reservations: none; Noes: none; and 3 Excused: Representative(s) Matayoshi, Lowen, Tam.
lower
Jan 21, 2025
Committee
Referred to CPC, FIN, referral sheet 2
lower
Jan 21, 2025
Introduced
Introduced and Pass First Reading.
lower
Jan 17, 2025
Introduced
Pending introduction.
lower
3 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
P
Elijah Pierick
RRepublican
P
Gene Ward
RRepublican
P
Kim Coco Iwamoto
DDemocratic
Co
Lauren Matsumoto
RRepublican
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