THE SENATE	S.B. NO.	2502
THIRTY-FIRST LEGISLATURE, 2022		S.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO HAWAII COMMUNITY DEVELOPMENT AUTHORITY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 206E-14, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) The authority may, without recourse to public auction, sell, or lease for a term not exceeding [sixty-five] ninety-nine years, except that leases for ceded lands shall have a term not exceeding sixty-five years, all or any portion of the real or personal property constituting a redevelopment project to any person, upon such terms and conditions as may be approved by the authority, if the authority finds that the sale or lease is in conformity with the community development plan.

For the stadium development district, leases shall not exceed a term of ninety-nine years."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2050.

Report Title:

Hawaii Community Development Authority; Term Leases; Public Auction

Description:

Increases terms for public auction, sales, or leases under the Hawaii Community Development Authority from sixty-five years to ninety-nine years. Retains terms for leases of ceded lands at sixty-five years. Takes effect 7/1/2050. (SD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.