Clarifies the Ninety-Nine Year Leasehold Program by: (1) repealing the prohibition against renting, advertising for rent, or using for any other purpose other than owner-occupied residential use a residential condominium unit; (2) exempting the design, development, and construction contracts from procurement requirements, subject to prevailing wage requirements for laborers and mechanics; (3) requiring HCDA to adopt rules to implement an initial sales period during which residential condominium units are offered only to eligible buyers for owner-occupied residential use; (4) authorizing the sale of a residential condominium unit that is not subject to an income restriction and was not sold within a certain period to be sold to other buyers, as determined by rule by HCDA, without an owner-occupancy requirement; (5) requiring HCDA to adopt rules that require at least sixty per cent of residential condominium units to be income restricted; and (6) requiring HCDA to establish rules to require buyback pricing similar to other state agencies' existing pricing formulas. Effective 7/1/3000. (HD1)

Statutes affected:
SB2061: 206E-281, 206E-283, 206E-284
SB2061 SD1: 206E-281, 206E-283, 206E-284
SB2061 SD2: 206E-281, 206E-283, 206E-284
SB2061 HD1: 206E-281, 206E-283, 206E-284, 206E-288