S.B. 2043 Summary

• Authorizes the Hawaii Housing Finance and Development Corporation, Hawaii Community Development Authority, and Hawaii Public Housing Authority to sell leasehold units in condominiums on state land to qualified residents.

• Requires each entity to establish administrative rules providing for the transfer of a certain percentage or number of leasehold units to the Department of Hawaiian Home Lands or Office of Hawaiian Affairs before any sales occur.

• Limits lease terms to a maximum of 99 years with no renewal or extension beyond the initial term.

• Exempts state lands used for these condominiums from the definition of "public lands" while maintaining accountability for receipts under the Admission Act and subjecting transactions to existing public land sale restrictions.

• Takes effect June 18, 2050.