STAND. COM. REP. NO. 851

Honolulu, Hawaii

, 2019

RE: H.B. No. 1479

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1479, 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 ensure that public benefits are realized when state funds or state development powers are used to facilitate the development of residential property by restricting the sales of residential condominiums developed with state investment within a transit-oriented development area to only owner-occupants for sixty days after the project's initial date of sale.

The Hawaii Housing Finance and Development Corporation and O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i submitted testimony in support of 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 H.B. No. 1479, 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