HI SB2755

Amends Section 201H-47 of Hawaii Revised Statutes to modify the Hawaii Housing Finance and Development Corporation's (HHFDC) right of first refusal on property transfers during the initial 10-year period after purchase.

Changes the purchase price calculation in subsection (a)(1)(D) from "the corporation's share of appreciation in the real property, as determined under rules" to "the amount, if any, previously paid by the purchaser to the corporation as the corporation's share of net appreciation in the real property."

Modifies subsection (b) to specify that a qualified nonprofit housing trust's option to purchase must be calculated using the original cost, improvements, simple interest at 1% per year, and the corporation's share of net appreciation—rather than simply referencing subsection (a)'s pricing.

Amends Act 159, Section Laws of Hawaii 2017, Section 8 to clarify that the act does not affect rights, duties, and obligations that matured through signed contracts or preliminary offering statements filed with the real estate commission before its effective date.

Takes effect upon approval.