HI HB1958

Adds a new exemption to Hawaii's general excise tax for amounts received from government public housing agencies or non-profit organizations for rental subsidies under Section 8 assisted housing programs or federal, state, or county housing first programs.

Amends section 237-24.7 of the Hawaii Revised Statutes by adding paragraph (11) to list additional amounts not subject to general excise tax.

Applies to gross income or gross proceeds received after December 31, 2016, with an effective date of July 1, 2050.

Exempts rental subsidy payments made to landlords or housing providers participating in low-income housing assistance programs from state general excise tax obligations.