Bill Text: HI SB2999 | 2024 | Regular Session | Introduced
Bill Title: Relating To Hawaii Emergency Home Sales Moratorium.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-01-26 - Referred to HOU/PSM, CPN/JDC. [SB2999 Detail]
Download: Hawaii-2024-SB2999-Introduced.html
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THE SENATE |
S.B. NO. |
2999 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to Hawaii emergency home sales moratorium.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. (a) Notwithstanding any law to the contrary, only an individual who is:
(1) A current resident of Hawaii; or
(2) A former resident of Hawaii,
may obtain an ownership interest in residential property in Hawaii.
(b) A real estate broker or real estate salesperson licensed under chapter 467, Hawaii Revised Statutes, shall not buy, offer to buy, or negotiate the purchase of residential real estate, or the improvements thereon, for an individual who is not a current resident of Hawaii or a former resident of Hawaii without disclosing the prohibition under this Act to the individual.
(c) This Act shall not apply to:
(1) Any individual who acquires residential property, or an ownership interest in residential property, through a will, devise, descent, or by operation of law; and
(2) Any ownership interest in residential property by an individual that existed before the effective date of this Act.
(d) For purposes of this Act:
"Current
resident of Hawaii" means an individual who is currently domiciled in Hawaii.
"Former
resident of Hawaii" means an individual who was born, was previously
domiciled, was registered to vote, or lived in Hawaii, but is currently domiciled
in a location outside of Hawaii.
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. This Act shall take effect upon its approval; provided that this Act shall be repealed on the last date of the final proclamation relating to affordable housing issued by the governor; provided further that the governor shall notify the chief justice, legislature, and revisor of statutes no later than twenty days prior to the expiration of the final proclamation relating to affordable housing that the governor will not be issuing any further proclamation relating to affordable housing.
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INTRODUCED BY: |
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Report Title:
Residential
Property Sales; Moratorium; Non-Residents; Real Estate Broker; Real Estate
Salespersons
Description:
Establishes
a temporary restriction that only current and former residents of Hawaii may
purchase residential property. Prohibits
real estate brokers and real estate salespersons from buying, offering to buy,
or negotiating the purchase of residential real estate for someone who is not a
current or former resident without disclosing the temporary restriction. Repeals the moratorium when the Governor's
last proclamation on affordable housing expires.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
