HI HB2055

Establishes a two-year moratorium on all foreclosure actions for properties located in lava zones 1 and 2 in Hawaii, as designated by United States Geological Survey lava-flow hazard zone maps.

Prohibits foreclosure by action or power of sale, court orders for foreclosure, and recording of foreclosure documents by the land court assistant registrar and bureau of conveyances registrar during the moratorium period.

The moratorium sunsets after two years unless the commissioner formally requests renewal to the governor, with a maximum of three renewals allowed.

Addresses insurance crisis in Hawaii County where homeowners in high-risk lava zones face 400-1,000 percent rate increases and limited access to private homeowners insurance coverage.

Takes effect upon approval.