Bill Text: HI HB56 | 2010 | Regular Session | Introduced

Hawaii House Bill 56 (Prior Session Legislation)

Introduced

Bill Title: Public Accountancy

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [HB56 Detail]

Download: Hawaii-2010-HB56-Introduced.html

Report Title:

Public Accountancy

Description:

Repeals permit requirement for accounting firms to engage in public accountancy. Terminates rights, duties, and proceedings under repealed requirement on effective date of Act.

HOUSE OF REPRESENTATIVES	H.B. NO.	56
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO PUBLIC ACCOUNTANCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that present laws require both individuals and firms to obtain licenses or permits to practice public accountancy. However, the legislature further finds that the requirement that firms obtain permits is redundant, and if implemented, would impose unnecessary burdens upon practitioners. The purpose of this Act is to remove the requirement that accounting firms must obtain a permit to actively engage in the practice of accountancy.

SECTION 2. Section 466-7, Hawaii Revised Statutes, is amended to read as follows:

"§466-7 Permits to practice. (a) A license and permit are required to actively engage in the practice of public accountancy. The board may grant or renew a permit to actively engage in the practice of public accountancy. Permits shall be initially issued and renewed for periods of two years but in any event shall expire on December 31 of every odd-numbered year. The board shall prescribe the methods and requirements for application.

(b) An applicant for the initial issuance or renewal of a permit shall have:

(1) A valid license;

(2) Completed continuing professional education hours, the content of which shall be specified by the board which may provide for special consideration by the board to applicants for permit renewal when, in the judgment of the board, full compliance with all requirements of continuing education cannot reasonably be met;

(3) Completed an application; and

(4) Paid appropriate fees and assessments.

(1) Has attained eighteen years of age;

(2) Possesses a history of competence, trustworthiness, and fair dealing;

(3) Holds a valid license of certified public accountant or of public accountant issued under the laws of another state, or who holds a valid comparable certificate, registration, or license or degree from a foreign country determined by the board to be a recognized qualification for the practice of public accountancy in such other country;

(4) Incidental to the person's practice in such other state or country, desires to practice public accountancy in this State on a temporary basis; and

(5) Has completed an application.

Such permit shall be effective for a period not exceeding three months, and shall specify the nature and extent of the practice so permitted.

[(d) All firms shall obtain a permit to practice. The board may issue or renew a permit to actively engage in the practice of public accountancy to any firm which submits a completed application and demonstrates qualifications as prescribed by the board.

~~(e)~~] (d) Failure to submit the required fees, continuing education hours, or other requirements for renewal as specified in this section by December 31 of every odd-numbered year, shall constitute forfeiture of the permit. Continued performance in the practice of public accountancy without a permit shall constitute unlicensed activity and the individual [~~or firm~~] shall be subject to sections 466-9, 466-11, 487-13, and 26-9.

[~~(f)~~] (e) The board may restore forfeited permits to the individual [~~or firm which~~] who satisfies the following:

(1) The requirements of subsection (a), (b), or (c)[~~, or (d) of this section~~]; and

(2) Payment of required fees."

SECTION 3. Section 466-8, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:

"(d) An application for the issuance of a biennial permit to practice for an individual [~~or firm~~] under section 466-7(a) [~~and (d)~~] shall be accompanied by the application and permit to practice fees."

SECTION 4. This Act shall terminate all rights and duties that matured, penalties that were incurred, and proceedings that were begun, under section 466-7(d), Hawaii Revised Statutes, in the form in which it existed on the day before the effective date of this Act.

SECTION 5. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 6. This Act shall take effect upon its approval.