Bill Text: HI SB1360 | 2013 | Regular Session | Amended
Bill Title: General Excise Tax Exemption; Hotel Operators; Timeshare Projects
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2013-06-25 - Act 163, on 6/21/2013 (Gov. Msg. No. 1266). [SB1360 Detail]
Download: Hawaii-2013-SB1360-Amended.html
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THE SENATE |
S.B. NO. |
1360 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO GENERAL EXCISE TAX.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Act 239, Session Laws of Hawaii 2007, section 4, as amended by Act 196, Session Laws of Hawaii 2009, section 5, as amended by Act 91, Session Laws of Hawaii 2010, section 1 is amended to read as follows:
"SECTION 4. This Act shall take effect on
January 1, 2008[; provided that this Act shall be repealed on December 31,
2014, and section 237-24.3, Hawaii Revised Statutes, and section 237-24.7,
Hawaii Revised Statutes, shall be reenacted in the form in which they read on
December 31, 2007]."
SECTION 2. Act 196, Session Laws of Hawaii 2009, section 6, as amended by Act 91, Session Laws of Hawaii 2010, section 2, is amended to read as follows:
"SECTION 6. The aggregate amount of tax
exempted by the amendment to section 237-24.7(1) in section 2 of Act 239,
Session Laws of Hawaii 2007, shall not exceed $400,000 per calendar year[.];
provided that this section shall be repealed on December 31, 2012."
SECTION 3. Statutory material to be repealed is bracketed and stricken.
SECTION 4. This Act shall take effect on July 1, 2050; provided that section 2 shall apply to taxable years beginning after December 31, 2012.
Report Title:
General Excise Tax Exemption; Hotel Operators; Timeshare Projects
Description:
Makes permanent the general excise tax exemptions for condominium common expenses paid by managers, submanagers, and suboperators and for hotel employee expenses paid by hotel operators and timeshare projects. Eliminates the aggregate cap of $400,000 for taxpayers eligible for the exemptions. Effective 07/01/2050. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
