SB 873 SD 1

RELATING TO REAL PROPERTY APPRAISALS

By Senator(s) CHUN OAKLAND; Mizuguchi

Keywords: EMINENT DOMAIN, HOUSING, PUBLIC PROPERTY, REAL PROPERTY

Report Title: Real Property Appraisals

Description: Makes optional the use of USPAP in determining fair market value in lease renegotiations. Provides that fair market value that is determined to be less than current lease rent amount prevails over contract provision barring reduction of lease rent. Makes Act effective January 1, 2004. (SD1)

 1-22-99        S Introduced and passed First Reading                      
 1-25-99        S Referred to CPN                                          
 2-26-99        S Bill scheduled to be heard by CPN on 03-02-99 at
                  9:00 a.m. in conference room 016
 3- 2-99        S The measure is deferred until 03-04-99 at 9:00 a.m.         
                  in conference room 016.
 3- 4-99        S The measure is deferred until 03-05-99 at 9:00 a.m.         
                  in conference room 016.
 3- 5-99        S The measure is deferred until 03-05-99 at 2:00 p.m.         
                  in conference room 016.
 3- 5-99        S The committee on CPN recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 3- 5-99        S The votes in CPN were as follows: 6 Ayes: Senator(s)        
                  Kanno, Taniguchi, Bunda, Hanabusa, Inouye, Slom;
                  Ayes with reservations: Senator(s) ; none Noes:
                  Senator(s) ; and 2 Excused: Senator(s) Ihara,
                  Matsuura
 3- 5-99        S Reported from CPN (Stand. Com. Rep. No. 796) with
                  recommendation of passage on Second Reading, as
                  amended (SD 1) and placement on the calendar for
                  Third Reading
 3- 5-99        S Report adopted; Passed Second Reading, as amended
                  (SD 1)
 3- 5-99        S 48 hours notice                                          
 3- 9-99        S Passed Third Reading, as amended (SD 1). Ayes, 25.          
                  Noes, none.  Excused, none.
 3- 9-99        S Transmitted to House                                     
 3- 9-99        H Received from Senate (Sen. Com. No. 173)                 
 3-11-99        H Introduced and passed First Reading                      
 3-11-99        H Referred to the committees on 1. CPC 2. FIN ,
                  referral sheet 26