SB 2578 SD 1

RELATING TO RESIDENTIAL LEASE-TO-FEE CONVERSION

By Senator(s) TAM

Keywords: CONDOMINIUMS, COOPERATIVE HOUSING CORPORATIONS, HOUSING, PROFESSIONS AND OCCUPATIONS, REAL PROPERTY, RESIDENTIAL LEASEHOLDS

Report Title: Condominium; Leasehold

Description: Establishes a fair market value standard (FMVS) for appraising the leased fee interest of condo and co-op housing corporations for leases that do not specify an appraisal standard and for leases on or after effective date of this Act; allows FMVS if lessor and lessee agree for leases prior to date of this Act. (SD1)

 1-24-00        S Introduced and passed First Reading                      
 1-25-00        S Referred to 1. GOH 2. WAM                                
 2- 4-00        S Bill scheduled to be heard by GOH on 02-08-00 at
                  1:30 p.m. in conference room 224.
 2- 8-00        S The measure is deferred until 02-15-00 at 3:00 p.m.         
                  in conference room 224.
 2-15-00        S The committee on GOH recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 2-15-00        S The votes in GOH were as follows: 6 Ayes: Senator(s)        
                  Tam, Matsuura, Chun, Levin, Matsunaga; Ayes with
                  reservations: Senator(s) Anderson; none Noes:
                  Senator(s) ; and 3 Excused: Senator(s) Hanabusa,
                  Sakamoto, Tanaka
 2-18-00        S Reported from GOH (Stand. Com. Rep. No. 2375) with
                  recommendation of passage on Second Reading, as
                  amended (SD 1) and referral to WAM
 2-18-00        S Report adopted; Passed Second Reading, as amended
                  (SD 1) and referred to WAM.
 2-28-00        S Bill scheduled for decision making by WAM on
                  03-01-00 at 6:00 p.m. in conference room 211.
 3- 2-00        S The committee on WAM recommends that the measure be         
                  PASSED, UNAMENDED.
 3- 2-00        S The votes in WAM were as follows: 10 Ayes:
                  Senator(s) Fukunaga, Levin, Buen, Chun Oakland,
                  Kawamoto, Nakata, Tam, Taniguchi; Ayes with
                  reservations: Senator(s) M. Ige, Iwase; none Noes:
                  Senator(s) ; and 3 Excused: Senator(s) Chun, D. Ige,        
                  Anderson
 3- 3-00        S Reported from WAM (Stand. Com. Rep. No. 2742) with
                  recommendation of passage on Third Reading
 3- 3-00        S 24 hours notice 03-07-00                                 
 3- 7-00        S Report adopted; Passed Third Reading. Ayes, 24. 
                  Noes, none ().  Excused, 1 (Bunda).
 3- 7-00        S Transmitted to House                                     
 3- 7-00        H Received from Senate (Sen. Com. No. 211)                 
 3- 9-00        H Introduced and passed First Reading                      
 3- 9-00        H Referred to the committees on 1. CPC 2. FIN ,
                  referral sheet 29