HI HB2284

Extends the sunset date of Act 189 (Session Laws of Hawaii 2009) from June 30, 2010, to June 30, 2011, continuing temporary relief provisions for small business lessees during economic recession.

Act 189 clarifies renegotiation provisions in commercial or industrial leases regarding determination of "fair and reasonable" annual rent without substantial reduction in lessor's economic or ownership benefits.

Committee amended the bill to extend the sunset date to June 30, 2011, and set an effective date of December 21, 2058, to encourage further discussion.

Citizens for Fair Valuation, Servco Pacific Inc., and concerned individuals supported the bill; Land Use Research Foundation of Hawaii, HRPT Properties Trust, and Hawaii Association of REALTORS opposed it.