THE SENATE

S.B. NO.

1190

THIRTIETH LEGISLATURE, 2019

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO LEASEHOLD CONDOMINIUMS ON LANDS CONTROLLED BY THE STATE.

 

 

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

 


SECTION 1. Chapter 201H, Hawaii Revised Statutes, is amended by adding to part II a new section to be appropriately designated and to read as follows:

"201H-__ Leasehold condominiums on state land. (a) The corporation may sell leasehold units in condominiums created pursuant to chapter 514B and developed under this part on state land to a "qualified resident" as defined in section 201H-32.

(b) The term of the lease may be for ninety-nine years, and the corporation may extend or modify the fixed rental period of the lease or extend the term of the lease.

(c) The sale of leasehold units shall be subject to all of the provisions of sections 201H-47, 201H-49, and 201H-50, except for units sold at fair market value.

(d) State land set aside by the governor to the corporation and lands leased to the corporation by any department or agency of the State for a condominium described in this section shall be exempt from the definition of "public land" under section 171-2.

(e) The powers conferred upon the corporation by this section shall be in addition and supplemental to the powers conferred by any other law, and nothing in this section shall be construed as limiting any powers, rights, privileges, or immunities so conferred."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 

BY REQUEST


 


 

Report Title:

Leases; Leasehold Condominiums on Lands Controlled by the State

 

Description:

Authorizes Hawaii Housing Finance and Development Corporation to enter into ninety-nine-year leases of units in residential condominiums located on state lands.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.