STAND. COM. REP. NO.  1715

Honolulu, Hawaii

                , 2017

RE:   S.B. No. 292

      S.D. 1

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 292, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CONDOMINIUMS,"

begs leave to report as follows:

The purpose of this measure is to eliminate confusion in the State's condominium laws, which are currently maintained under two chapters within the Hawaii Revised Statutes (HRS) by placing these laws into only one chapter in the HRS.

     Specifically, this measure:

(1)  Repeals chapter 514A, HRS, relating to condominium property regimes that were created before July 1, 2006, but not yet brought to market for sale;

(2)  Establishes chapter 514B, HRS, as the governing law for all condominiums in the State regardless of age while preserving the validity of developers' reserved rights under existing condominium documents; and

(3)  Removes various statutory references to the repealed chapter 514A, HRS.  

The Hawaii Council of Associations of Apartment Owners, Associa, and three individuals testified in support of this measure.  The Hawaii Real Estate Commission and ARDA Hawaii provided comments on this measure.  

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 292, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair