Bill Text: HI SB212 | 2019 | Regular Session | Introduced
Bill Title: Relating To Hawaiian Home Lands.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2019-03-14 - The committee on HWN deferred the measure. [SB212 Detail]
Download: Hawaii-2019-SB212-Introduced.html
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THE SENATE |
S.B. NO. |
212 |
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THIRTIETH LEGISLATURE, 2019 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO HAWAIIAN HOME LANDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The Hawaiian Homes Commission Act, 1920, as amended, is amended by adding a new section to be appropriately designated and to read as follows:
"§ Collateral for loans. Notwithstanding any provision of this Act to the contrary, a lessee may use the value of a lease made under the authority granted by this Act as collateral for a loan to build a dwelling on the tract of leased land; provided that a lender who does not qualify to be a lessee of Hawaiian Homes under this Act shall not become a lessee of the respective tract of land."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval by the governor of the State of Hawaii with the consent of the United States.
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INTRODUCED BY: |
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Report Title:
Hawaiian Homes Commission Act; Lessees; Collateral
Description:
Provides that a lessee of Hawaiian Homelands may use the value of the lease as collateral for a loan to build a dwelling on the tract of leased land; provided that a lender who does not qualify to be a lessee of Hawaiian Homes under this Act shall not become a lessee of the respective tract of land.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
