HI HB832

Prohibits resetting lease rents for long-term commercial leases above levels that are economic for the lessee's actual use of the property, including consideration of the lessee's return on investment for improvements and infrastructure.

Requires lessors to compensate lessees upon termination of long-term commercial leases for the value of buildings, infrastructure, and businesses created or constructed by the lessee that remain on the property.

Grants lessees operating businesses on long-term commercial leases the right to purchase the land in fee simple at fair market value based on the use to which the lessee puts the land.

Requires appraisers determining values for rent resetting, lessee compensation, or lessee land purchases to adhere to these restrictions and prohibits lease language from overriding these requirements.

Allows any party aggrieved by an arbitration decision to appeal to circuit court for a full trial de novo on all issues, notwithstanding any lease arbitration provisions.