HI SB7

Grants the Hawaii Housing Finance and Development Corporation (HHFDC) a right of first refusal to develop state lands within a one-half mile radius of rail transit stations, excluding lands owned by the Hawaii Public Housing Authority, Department of Hawaiian Home Lands, and Department of Land and Natural Resources.

Right of first refusal is triggered whenever any property interest (including leasehold interests) in eligible state lands is transferred.

If HHFDC declines to exercise the right of first refusal, the respective state department or agency may proceed with developing the property according to applicable law.

Defines "development" to include planning, redesign, reconstruction, redevelopment, rehabilitation of state lands and provision of residential, commercial, industrial, public, and recreational structures or facilities.

Effective date: July 1, 2050.