Report Title:

Condominium Education Trust Fund; Real Estate Commission; Real Property

Description:

Directs the real estate commission to spend moneys from the condominium education trust fund on mediations using an evaluative method.

THE SENATE	S.B. NO.	195
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

relating to condominiums.

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

     SECTION 1.  Section 514B-71, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  The commission may use any and all moneys in the condominium education trust fund for purposes consistent with subsection (a)[.]; provided that the sum of $12,000 per calendar year shall be used from the fund to subsidize the cost of mediations using an evaluative method."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on July 1, 2009.

INTRODUCED BY:

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