Bill Text: HI HB1878 | 2020 | Regular Session | Amended
Bill Title: Relating To Real Property Transactions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2020-06-26 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to CPH/WAM. [HB1878 Detail]
Download: Hawaii-2020-HB1878-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1878 |
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THIRTIETH LEGISLATURE, 2020 |
H.D. 1 |
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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. The legislature recognizes that climate change is real and a priority issue for the State. It poses immediate and long-term threats to Hawaii's economy, sustainability, security, and way of life. Sea level rise is an especially pressing consequence of climate change, with sea levels projected to rise up to 3.2 feet in some areas by as early as 2060.
The legislature finds that a property's vulnerability to sea level rise, as identified by county climate maps, is a material fact for the purposes of mandatory disclosures in residential property sales. Chapter 508D, Hawaii Revised Statutes, requires that all residential property sales include a written disclosure statement prepared by or for the seller that fully and accurately discloses all material facts about the property. A "material fact" is defined in the chapter as "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." Sea level rise, or an ongoing vulnerability to it, can be expected to measurably affect the value of residential real property.
Accordingly, the purpose of this Act is to require that mandatory seller disclosures in residential real property transactions identify property within the sea level rise exposure area as officially designated by the Hawaii climate change mitigation and adaptation commission or its successor.
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. Until these maps are made available, State-produced
and adopted SLR-XA maps shall be accepted."
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 designated by the Hawaii climate change mitigation and
adaptation commission or its successor. Effective
12/31/2050. (HD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
