STAND. COM. REP. NO. 156
Honolulu, Hawaii
, 2013
RE: H.B. No. 998
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2013
State of Hawaii
Sir:
Your Committee on Water & Land, to which was referred H.B. No. 998 entitled:
"A BILL FOR AN ACT RELATING TO PRIVATE TRANSFER FEES,"
begs leave to report as follows:
More specifically, this measure proposes to prohibit the inclusion in a deed of a restriction or other covenant running with the land that requires a transferee of real property to pay a fee in connection with a future transfer of the property.
Your Committee finds that thirty-six other states have either banned or placed restrictions on private transfer fees, excluding the private transfer fees paid to homeowners associations, condominiums, cooperatives, and certain tax-exempt organizations that use private transfer fee proceeds to benefit the property. Your Committee also finds that Act 169, Session Laws of Hawaii is to be repealed on June 30, 2015, but that the public would benefit from making the prohibition on private transfer fees for future transferees for real property permanent.
As affirmed by the record of votes of the members of your Committee on Water & Land that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 998 and recommends that it pass Second Reading and be referred to the Committees on Consumer Protection & Commerce and Judiciary.
Respectfully submitted on behalf of the members of the Committee on Water & Land,
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____________________________ CINDY EVANS, Chair |
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