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E'ffectiu~`eDatesof IVlarket.~,alue Assessed Value <br />Dedication Iul~iplier <br />July 1,, 00"5 <br />7u1y~1, 2006 <br />Julu~l~.~2007 <br />Januarv~l, 2006 <br />January s1,~20"07 <br />i~94it <br />il1~5933 <br />~11~255 <br />X10927 <br />sl_0609 <br />SECTION 3. 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 />~. <br />residential use. 1` 1 Qnly renewal peti~opsuwill be <br />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 <br />19-72 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 />