HB 2748, CD-1

SUBJECT:  GENERAL EXCISE, Expand and Extend Affordable Rental Housing Exemption

BILL NUMBER:  HB 2748, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Also known as the “Bob Nakata Act.”  Part II of the bill expands and extends to June 30, 2026, the affordable housing exemption from general excise tax and use tax costs for certain rental housing projects pursuant to section 201H-36(a)(5), Hawaii Revised Statutes.  Requires affordable rental project owners to accept Section 8 Housing Choice Vouchers as a condition of certification.

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HB 2395, SD-1

SUBJECT:  ADMINISTRATION, Mandatory Electronic Filing of Tax Returns

BILL NUMBER:  HB 2395, SD-1

INTRODUCED BY:  Senate Committee on Ways and Means

EXECUTIVE SUMMARY:  Requires electronic filing of tax returns.  Adoption of rules is not required, but the department is to provide no less than ninety days’ prior written notice to the general public before the requirement goes into effect.

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HB 2354, CD-1

SUBJECT:  INCOME, Increase Tax Checkoff for Libraries

BILL NUMBER:  HB 2354, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases from $2 to $5 the amount of authorized income tax check-off that may be designated payable from an individual’s state income tax refund to the libraries special fund. Permits designation of check-off in the amount of $4 or $10 to the library special fund. Effective for taxable years after December 31, 2017.  A direct appropriation to the libraries would increase transparency and accountability.

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HB 2010, CD-1

SUBJECT:  TRANSIENT ACCOMMODATIONS, Reduce Earmarks, Cancel Interagency Debt

BILL NUMBER:  HB 2010, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Forgives the debt owed to the State by the Hawaii Tourism Authority for the convention center construction costs and related interest and reduces the Transient Accommodations Tax earmark to the convention center enterprise special fund for money that otherwise would have paid the debt service.  This considerably simplifies the Hawaii Tourism Authority’s budgeting, because the bond debt has been paid off and the State’s right hand is now paying its left.

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