HOUSE OF REPRESENTATIVES	H.B. NO.	2313
THIRTY-SECOND LEGISLATURE, 2024		H.D. 1
STATE OF HAWAII		S.D. 1

A BILL FOR AN ACT

RELATING TO CONDOMINIUMS.

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

SECTION 1. Act 187, Session Laws of Hawaii 2013, as amended by section 6 of Act 196, Session Laws of Hawaii 2018, is amended by amending section 5 to read as follows:

"SECTION 5. The department of commerce and consumer affairs professional and vocational licensing division's budget ceiling shall be amended to reflect the additional annual condominium education trust fund fee required by section 514B‑72(a)(2), Hawaii Revised Statutes, and paid into the condominium education trust fund, established by section 514B‑71, Hawaii Revised Statutes. On June 30 of every odd-numbered year, any unexpended additional amounts paid into the condominium education trust fund and initially dedicated to supporting mediation or voluntary binding arbitration[, until June 30, 2023,] of condominium related disputes, as required by section 514B‑72(a)(2), Hawaii Revised Statutes, shall be used for educational purposes as provided in section 514B-71(a)(1), (2), and (3), Hawaii Revised Statutes."

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 Statutory material to be repealed is bracketed and stricken.

SECTION 3. This Act shall take effect on July 1, 2040.

Report Title:

Condominiums; Alternative Dispute Resolution; Binding Arbitration; Mediation; Condominium Education Trust Fund; Allowed Uses; Cutoff Date; Repeal

Description:

Repeals the cutoff date of Act 196, SLH 2018, that allowed the use of funds in the Condominium Education Trust Fund initially dedicated to support voluntary binding arbitration to be used for other educational purposes. Takes effect 7/1/2040. (SD1)

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