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HI HB2700
Bill
Status
1/27/2010
Primary Sponsor
John Mizuno
Click for details
AI Summary
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Imposes a 4% general excise tax on gross rental proceeds from a rewards club central fund received by transient accommodation operators.
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Expands the definition of "gross rental proceeds" in Chapter 237D to include compensation from rewards club central funds when a rewards club member occupies the accommodation and the compensation was not contributed by the operator.
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Calculates taxable gross rental proceeds annually as the difference between amounts contributed by the operator to the rewards club central fund and amounts received from the fund during the same taxable year.
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Tax is in addition to any other tax liability imposed on the transient accommodation operator under Chapter 237.
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Effective upon approval and applies to taxable years beginning after December 31, 2009.
Legislative Description
General Excise Tax; Transient Accommodations Tax; Rewards Club Central Fund
Last Action
(H) The committee(s) recommends that the measure be deferred.
2/12/2010