Bill Text: HI HB1117 | 2013 | Regular Session | Amended

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Bill Title: General Excise Tax; Exemption for Housing Projects Built on Federal Lands; Repeal; Rental Housing Trust Fund

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2013-02-11 - The committee(s) on WAL recommend(s) that the measure be deferred. [HB1117 Detail]

Download: Hawaii-2013-HB1117-Amended.html

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STAND. COM. REP. NO.  133

 

Honolulu, Hawaii

                , 2013

 

RE:   H.B. No. 1117

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

 

Sir:

 

     Your Committee on Housing, to which was referred H.B. No. 1117 entitled:

 

"A BILL FOR AN ACT RELATING TO THE GENERAL EXCISE TAX,"

 

begs leave to report as follows:

 

     The purpose of this measure is to provide additional resources for affordable housing development and address the needs of homeless families with children by:

 

(1)  Repealing the general excise tax exemption for housing projects built on federal lands; and

 

(2)  Providing that the tax revenues gained from repealing the exemption be deposited into the Rental Housing Trust Fund to be used solely for the purpose of developing affordable rental housing for homeless families with children.

 

     An individual testified in support of this measure.  The Department of Budget and Finance, The Chamber of Commerce of Hawaii, and an individual opposed this measure.  The Hawaii Housing Finance and Development Corporation, Department of Taxation, and Tax Foundation of Hawaii commented on this measure.

 

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1117 and recommends that it pass Second Reading and be referred to the Committee on Water & Land.

 

 

Respectfully submitted on behalf of the members of the Committee on Housing,

 

 

		____________________________ RIDA T.R. CABANILLA, Chair