HI SB1360

Removes the December 31, 2014 repeal date for Act 239 (Session Laws of Hawaii 2007, section 4), making the general excise tax exemptions permanent rather than temporary.

Eliminates the $400,000 annual aggregate cap on tax exemptions for condominium common expenses paid by managers and hotel employee expenses paid by hotel operators and timeshare projects.

Removes the December 31, 2012 repeal date for the $400,000 cap provision under Act 196 (Session Laws of Hawaii 2009, section 6).

Effective July 1, 2050, with section 2 applying to taxable years beginning after December 31, 2012.