HB 903 Summary

• Amends Section 171-64.7, Hawaii Revised Statutes, to restructure exemptions from legislative approval requirements for sales or gifts of state-controlled lands.

• Reorganizes existing exemptions into a numbered list format: (1) sales or gifts between state departments/agencies, (2) sales under the Hawaiian Homes Commission Act, and (3) fee simple sales of affordable homes meeting specified conditions.

• Adds a new exemption allowing the Hawaii Housing Finance and Development Corporation to sell leased fee interests in leasehold condominium units or single family house lots to their lessees without legislative approval, subject to three conditions.

• New exemption requires: predecessor agency approval by November 4, 1994; more than 50% of units in the development previously sold or transferred prior to July 13, 2009; and sale only to the current lessee of record.

• Takes effect upon approval.