HOUSE OF REPRESENTATIVES	H.B. NO.	2166
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

A BILL FOR AN ACT

relating to 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-   Affordable housing projects. (a) Any statute, charter provision, ordinance, or rule requiring a developer or seller of any residential housing unit, single, duplex, or multi-family, to develop, market, and sell a housing unit at or below a fair market price shall be of no further force or effect.

(b)  For purposes of this section, "fair market price" means the price of a housing unit paid by a willing purchaser to a willing seller, that is reasonably comparable to prices on the open market."

     SECTION 2.  This Act shall apply to any never before sold housing unit, whether in existence or under development, upon the effective date of this Act.

     SECTION 3.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval; provided that it shall be repealed on December 31, 2015.

INTRODUCED BY:

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Report Title:

Housing; Affordable Housing

Description:

Repeals all affordable housing requirements from the effective date of the Act until 12/31/11.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.