Bill Text: HI SB1340 | 2019 | Regular Session | Amended
Bill Title: Relating To Real Property Transactions.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2019-03-07 - Referred to WLH/EEP, CPC, FIN, referral sheet 27 [SB1340 Detail]
Download: Hawaii-2019-SB1340-Amended.html
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THE SENATE |
S.B. NO. |
1340 |
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THIRTIETH LEGISLATURE, 2019 |
S.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO REAL PROPERTY TRANSACTIONS.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. As reflected in the findings of Act 32, Session Laws of Hawaii 2017 (Act 32), the legislature recognizes that not only is climate change real, but it is also the overriding challenge of the twenty-first century and one of the priority issues of the senate. Climate change poses immediate and long-term threats to the State's economy, sustainability, security, and way of life.
Act 32 established the Hawaii climate change mitigation and adaptation commission (commission) and directed the commission to, as a first step, focus on and develop sea level rise vulnerability and adaptation reports that are required to include:
(1) Identification of the major areas of sea level rise impacts affecting the State and counties through 2050;
(2) Identification of expected impacts of sea level rise based on the latest scientific research for each area through 2050;
(3) Identification of the economic ramifications of sea level rise;
(4) Identification of applicable federal laws, policies, or programs that impact affected areas; and
(5) Recommendations for planning, management, and adaptation for hazards associated with increasing sea level rise.
The sea level rise vulnerability and adaptation report approved by the commission identifies, with maps at tax map key detail, areas that are susceptible to sea level rise impacts based on a 3.2-foot increase in sea level projected to occur by mid-century or earlier. These areas are designated as the sea level rise exposure area projection, which the commission recommends be adopted as a sea level rise exposure area overlay to guide state and county adaptation strategies and standards for development. Furthermore, the commission's statement (September 4, 2018) includes a recommendation to require mandatory disclosure for private properties and public offerings located in areas with potential exposure to sea level rise. At a minimum, the seller shall be required to disclose if the property is located in the sea level rise exposure area as identified in the State's report.
The legislature further finds that chapter 508D, Hawaii Revised Statutes, requires a written disclosure statement prepared by the seller, or at the seller's direction, that purports to fully and accurately disclose all material facts relating to residential real property being offered for sale. A "material fact" is defined under section 508D-1, Hawaii Revised Statutes, in pertinent part, to mean "any fact, defect, or condition, past or present, that would be expected to measurably affect the value to a reasonable person of the residential real property being offered for sale." The value of property lying within the boundaries of a sea level rise exposure area likely will be affected over time, which is a material fact that should be included in mandatory seller disclosure statements in real property transactions.
The purpose of this Act is to require that mandatory seller disclosures in real property transactions include identification of residential real properties lying within the sea level rise exposure area.
SECTION 2. Section 508D-15, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) When residential real property lies:
(1) Within the boundaries of a special flood hazard area as officially designated on Flood Insurance Administration maps promulgated by the United States Department of Housing and Urban Development for the purposes of determining eligibility for emergency flood insurance programs;
(2) Within the boundaries of the noise exposure area shown on maps prepared by the department of transportation in accordance with Federal Aviation Regulation part 150, Airport Noise Compatibility Planning (14 C.F.R. part 150), for any public airport;
(3) Within the
boundaries of the Air Installation Compatible Use Zone of any Air Force, Army,
Navy, or Marine Corps airport as officially designated by military authorities;
[or]
(4) Within the
anticipated inundation areas designated on the department of defense's
emergency management tsunami inundation maps[,]; or
(5) Within the sea
level rise exposure area as officially designated by the Hawaii climate change
mitigation and adaptation commission or its successor,
subject to the availability of maps that designate
the [four] five areas by tax map key (zone, section, parcel), the
seller shall include the material fact information in the disclosure statement
provided to the buyer subject to this chapter.
Each county shall provide, where available, maps of its jurisdiction
detailing the [four] five designated areas specified in this
subsection. The maps shall identify the
properties situated within the [four] five designated areas by
tax map key number (zone, section, parcel) and shall be of a size sufficient to
provide information necessary to serve the purposes of this section. Each county shall provide legible copies of
the maps and may charge a reasonable copying fee."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on December 31, 2050.
Report Title:
Real Estate Transactions; Mandatory Seller Disclosures; Sea Level Rise Exposure Area
Description:
Requires that mandatory seller disclosures in real estate transactions include identification of residential real properties lying within the sea level rise exposure area as officially designated by the Hawaii Climate Change Mitigation and Adaptation Commission, subject to the availability of county maps designating the areas by tax map key. Effective 12/31/2050. (SD2)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
