Hawaii 2025 Regular Session

Hawaii House Bill HB525 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	HOUSE OF REPRESENTATIVES H.B. NO. 525 THIRTY-THIRD LEGISLATURE, 2025 ~~H.D. 1~~ STATE OF HAWAII A BILL FOR AN ACT RELATING TO HOUSING. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
	1	+	HOUSE OF REPRESENTATIVES H.B. NO. 525 THIRTY-THIRD LEGISLATURE, 2025 STATE OF HAWAII A BILL FOR AN ACT relating to housing. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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3	3		HOUSE OF REPRESENTATIVES H.B. NO. 525
4		-	THIRTY-THIRD LEGISLATURE, 2025 ~~H.D. 1~~
	4	+	THIRTY-THIRD LEGISLATURE, 2025
5	5		STATE OF HAWAII
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7	7		HOUSE OF REPRESENTATIVES
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9	9		H.B. NO.
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11	11		525
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13	13		THIRTY-THIRD LEGISLATURE, 2025
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15		-	~~H.D. 1~~
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17	17		STATE OF HAWAII
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31	31		A BILL FOR AN ACT
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37	37		relating to housing.
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43	43		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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47		-	SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending its title and subsections (a) ~~and~~ (b) to read as follows: "[[]§201H-181[]] Rent-to-own program. (a) The corporation may establish a rent-to-own program under which dwelling units that are for sale: (1) In fee simple; or (2) Leasehold on state or county land under a lease with an initial term of no less than ninety-nine years, may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received toward the purchase of the unit. (b) The sales price shall be established at the beginning of the rental term and shall remain fixed for the first [five] ten years after the rental agreement is executed. During this period, the participant shall have the option of purchasing the unit at the designated sales price. If the participant does not elect to purchase the unit within the [five-year] ten-year period, the renter shall forfeit the right to continue living in the unit and the unit shall be made available to another purchaser or renter." 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, 3000~~.
	47	+	SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending its title and subsections (a) through (b) to read as follows: "[[]§201H-181[]] Rent-to-own program. (a) The corporation may establish a rent-to-own program under which dwelling units that are for sale: (1) In fee simple; or (2) Leasehold on state or county land under a lease with an initial term of not less than ninety-nine years, may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received toward the purchase of the unit. (b) The sales price shall be established at the beginning of the rental term and shall remain fixed for the first [five] ten years after the rental agreement is executed. During this period, the participant shall have the option of purchasing the unit at the designated sales price. If the participant does not elect to purchase the unit within the [five-year] ten-year period, the renter shall forfeit the right to continue living in the unit and the unit shall be made available to another purchaser or renter." SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 3. This Act shall take effect upon its approval. INTRODUCED BY: _____________________________
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49		-	SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending its title and subsections (a) ~~and~~ (b) to read as follows:
	49	+	SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending its title and subsections (a) through (b) to read as follows:
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51	51		"[[]§201H-181[]] Rent-to-own program. (a) The corporation may establish a rent-to-own program under which dwelling units that are for sale:
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53	53		(1) In fee simple; or
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55		-	(2) Leasehold on state or county land under a lease with an initial term of no less than ninety-nine years,
	55	+	(2) Leasehold on state or county land under a lease with an initial term of not less than ninety-nine years,
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57	57		may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received toward the purchase of the unit.
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59	59		(b) The sales price shall be established at the beginning of the rental term and shall remain fixed for the first [five] ten years after the rental agreement is executed. During this period, the participant shall have the option of purchasing the unit at the designated sales price. If the participant does not elect to purchase the unit within the [five-year] ten-year period, the renter shall forfeit the right to continue living in the unit and the unit shall be made available to another purchaser or renter."
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61	61		SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
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63		-	SECTION 3. This Act shall take effect ~~on July 1, 3000~~.
	63	+	SECTION 3. This Act shall take effect upon its approval.
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65		-	Report Title: Housing; Rent-to-Own Program; Fee Simple; Leasehold Description: Clarifies that dwelling units eligible under the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of no less than ninety-nine years. Increases the time the sale price under the program must remain fixed from five years to ten years. Effective 7/1/3000. (HD1) The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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	67	+	INTRODUCED BY: _____________________________
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	69	+	INTRODUCED BY:
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	71	+	_____________________________
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	77	+	Report Title: Housing; Rent-to-Own Program; Fee Simple; Leasehold Description: Clarifies that the dwelling units eligible for the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of not less than ninety-nine years. Increases the time period that the sales price of dwelling units under the Rent-to-Own Program shall remain fixed from five years to ten years after the rental agreement is executed. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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71	85		Report Title:
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73	87		Housing; Rent-to-Own Program; Fee Simple; Leasehold
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77	91		Description:
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79		-	Clarifies that dwelling units eligible ~~under~~ the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of no less than ninety-nine years. Increases the time the ~~sale~~ price under the program ~~must~~ remain fixed from five years to ten years. ~~Effective 7/1/3000. (HD1)~~
	93	+	Clarifies that the dwelling units eligible for the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of not less than ninety-nine years. Increases the time period that the sales price of dwelling units under the Rent-to-Own Program shall remain fixed from five years to ten years after the rental agreement is executed.
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87	101		The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.