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HI SB1306

Bill

Official Source

Status

Introduced

1/29/2015

Primary Sponsor

Ronald Kouchi

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Amends section 237-16.5 of Hawaii Revised Statutes relating to the general excise tax on real property leases
  • Allows taxpayers who furnish transient accommodations on leased real property to claim a deduction from gross proceeds or gross income, treating the transient accommodations as a sublease
  • Permits the deduction for transient accommodations without requiring a written arrangement, provided the real property is leased from a related entity
  • Deduction for transient accommodations is allowed without regard to allocation and reasonableness requirements that apply to other subleases
  • Takes effect on July 1, 2050

Legislative Description

Real Property; Leases; Transient Accommodations

Last Action

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.

2/20/2015

Committee Referrals

Ways and Means2/20/2015
Tourism and International Affairs2/2/2015

Full Bill Text

No bill text available