HB260

HOUSE OF REPRESENTATIVES	H.B. NO.	260
TWENTY-FOURTH LEGISLATURE, 2007
STATE OF HAWAII

A BILL FOR AN ACT

SECTION 1. Chapter 173A, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§173A- Appraisal of land. Notwithstanding section 171-30, the appraisal of land having value as a resource to the State and acquired by the State under this chapter, whether the source of funding for the acquisition is the land conservation fund established under section 173A-5 or other state funds, may be performed as follows:

(1) The board may review, approve, and accept an existing appraisal prepared on behalf of a nonprofit organization if:

(A) The appraisal was completed within one year before the decision by the board approving the acquisition of the land; and

(B) The board finds that the appraisal was performed according to applicable and accepted standards for the appraisal of land; or

(2) The board may contract for an independent appraisal from no more than three disinterested appraisers. No land shall be purchased for a sum greater than the highest value fixed by the appraiser or appraisals; provided that the board, after review of the appraisal or appraisals, or the attorney general, may purchase property at a value greater than the highest appraisal value if the higher value is determined by the board or the attorney general to be justified and within the range of market value; provided further that this limitation shall not apply where acquisition is by condemnation. After the private property has been acquired or the State abandons the acquisition, the appraisal reports shall be available for inspection and copying by the public."

SECTION 2. New statutory material is underscored.

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

INTRODUCED BY:	_____________________________