Haw. Code R. § 17-2017-10 - Replacement housing payment to owner-occupants who rent

(a) A displaced owner-occupant of a one, two, or three family dwelling, acquired by the State, who elects to rent is eligible for a replacement housing payment in accordance with section 111-4(b), HRS; provided that the owner-occupant has rented a comparable dwelling not later than one year subsequent to the date on which the owner-occupant was required to move.

(b) The payment shall be the lesser of the following amounts but not to exceed $4,000:

(1) A sum equal to the difference, if any, between the cost of renting a comparable dwelling for the next two years and twelve percent of the acquisition price of the property taken; or

(2) The amount which the owner-occupant would have received had the owner-occupant elected to receive a replacement housing payment under section 17-2017-9.

Notes

Haw. Code R. § 17-2017-10

[Eff NOV 15 2004] (Auth: HRS § 111-9) (Imp: HRS § 111-4)