STAND. COM. REP. NO. 1542
Honolulu, Hawaii
, 2005
RE: S.B. No. 1336
S.D. 1
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committees on Judiciary and Consumer Protection & Commerce, to which was referred S.B. No. 1336, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CONDOMINIUMS AND COOPERATIVE HOUSING CORPORATIONS,"
beg leave to report as follows:
The purpose of this bill is to allow a co-owner or co-lessor of a leased fee interest in land to sell the interest to another co-owner or co-lessor.
The Board of Trustees of the Queen Liliuokalani Trust, Saint Francis Healthcare System, Small Landowners Association of Hawaii, Small Landowners of Oahu, and several concerned individuals supported this bill. The Hawaii Council of Associations of Apartment Owners, Hawaii Independent Condominium & Cooperative Owners, and Monarch Properties, Inc., opposed this bill.
Your Committees have amended this bill by:
(1) Including a suggestion proposed by the Queen Liliuokalani Trust that limits the application of the proposed amendment to chapter 514C-8, Hawaii Revised Statutes, to co-owners or co-lessors that are tax-exempt entities under section 501(c)(3) of the Internal Revenue Code;
(2) Making this bill effective upon its approval; and
(3) Making technical, nonsubstantive changes for clarity, consistency, and style.
As affirmed by the records of votes of the members of your Committees on Judiciary and Consumer Protection & Commerce that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 1336, S.D. 1, as amended herein, and recommend that it pass Second Reading in the form attached hereto as S.B. No. 1336, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committees on Judiciary and Consumer Protection & Commerce,
|
____________________________ KENNETH HIRAKI, Chair |
____________________________ SYLVIA LUKE, Chair |
|