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SECTION 2. Chapter 19, article 7, sections 19-58.1 and 19-58.2, Hawaii County Code
<br />1983 (2005 Edition, as amended), are amended to read as follows:
<br />"Section 19-58.1. Certain lands dedicated to nonspeculative
<br />residential use. Applications will not be accepted.
<br />(a) The term "owner" as used in this section shall mean the fee owner
<br />or the lessee of real property with an unexpired lease term of not
<br />less than five years from the effective date of the dedication.
<br />(b) Any owner of property who qualifies under sections 19-71 and 19-
<br />72 for home exemption and uses the property exclusively for
<br />residential use may dedicate said property in its entirety to
<br />nonspeculative residential use and have that parcel assessed in the
<br />manner provided by section 19-58.2, except that a husband and
<br />wife, although living separate and apart, shall be entitled to
<br />dedicate only one parcel to the nonspeculative residential use.
<br />Exclusive residential use as used in this section shall not
<br />permit the owner to conduct any commercial activities on the
<br />property, except as otherwise permitted in sections 19-71(a) and
<br />(b). Those owners who have dedicated their property to
<br />agricultural use or receive the benefit of the agricultural use or
<br />native forest dedication shall not be eligible for this nonspeculative
<br />residential use dedication.
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