Report Title:

Housing; Rental or For-sale Developments

Description:

Exempts new multi-family housing condominium developments of fifty units of more from certain state and county affordable housing requirements.

THE SENATE	S.B. NO.	2293
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO AFFORDABLE HOUSING.

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

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

     "§201H-  New rental or for-sale developments. (a)  Any law to the contrary notwithstanding, new multi-family housing condominium developments of fifty units or more per acre on privately owned lands or lands owned temporarily by the State or any county for a period of less than twelve months as a facilitator of affordable housing shall:

(1) Be exempt from the corporation's shared appreciation equity program;

(2) Be subject to three-year occupancy requirements and transfer restrictions; and

(3) Not be subject to the ten-year occupancy requirements and transfer restrictions in sections 201H-47 and 201H-49.

(b)  Notwithstanding any state or county affordable housing requirement, an affordable multi-family housing condominium development of fifty or more units per acre shall not be required to be on the same parcel of land as any required market-priced housing development; provided that:

(1) Both developments are located in the same county; and

(2) The areas of the affordable housing development and the market-priced housing development are of equal square footage."

     SECTION 2.  New statutory material is underscored.

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

INTRODUCED BY:

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