STAND. COM. REP. NO. 921-18

Honolulu, Hawaii

, 2018

RE: H.B. No. 1712

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1712, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO CONDOMINIUMS,"

begs leave to report as follows:

The purpose of this measure is to increase the minimum portion of residential units in condominiums required to be offered for sale to owner-occupants during the thirty-day period following the initial date of sale from fifty percent to ninety percent of all residential units.

The Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii and a concerned individual supported this measure. The Hawaii Housing Finance and Development Corporation, American Resort Development Association, and League of Women Voters of Hawaii offered comments.

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 H.B. No. 1712, H.D. 2, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair