HI SB2089

Amends Hawaii Revised Statutes Section 237-24.7 to add a new exemption (11) to the general excise tax for rental subsidy payments.

Exempts amounts received from government public housing agencies or non-profit organizations that subsidize rent for individuals or families in Title 42 United States Code section 1437 assisted housing programs (Section 8) or federal, state, or county housing first programs.

Takes effect upon approval and applies to gross income or gross proceeds received after December 31, 2015.