Requesting the Department of Commerce and Consumer Affairs to evaluate registration, reporting, and transparency mechanisms for large private trusts.

The bill requests the Department of Commerce and Consumer Affairs to evaluate existing registration, reporting, and transparency mechanisms for large private trusts, particularly those formed under Chapter 554G, Hawaii Revised Statutes. It aims to identify any gaps in current tracking and reporting, assess the need for statutory amendments, and recommend feasible transparency mechanisms. The evaluation will inform policymakers about the scale and economic impact of these trusts, ensuring oversight and accountability.

Requesting the Department of Commerce and Consumer Affairs to evaluate registration, reporting, and transparency mechanisms for large private trusts.

The bill requests the Department of Commerce and Consumer Affairs to evaluate existing registration, reporting, and transparency mechanisms for large private trusts, particularly those formed under Chapter 554G, Hawaii Revised Statutes. It aims to identify any gaps in current tracking and reporting, assess the need for statutory amendments, and recommend feasible transparency mechanisms. The evaluation will inform policymakers about the scale and economic impact of these trusts, ensuring oversight and accountability.