HI SB1268

Requires persons who collect rent on behalf of real property owners to file annual reports with the Department of Taxation by January 31, listing owner name, address, social security/tax ID number, general excise tax number, and total rent collected by county.

Requires persons who collect rent for transient accommodation operators to file annual reports with the Department of Taxation by January 31, listing operator name, address, social security/tax ID number, transient accommodations tax registration number, and total gross rental proceeds collected by county.

Mandates that rent collectors provide property owners and accommodation operators with copies of the information filed with the department and written notice that their rental information has been reported to tax authorities.

Establishes a penalty of $500 per month or fraction thereof for each owner/operator for failure to provide required information, unless failure is due to reasonable cause and not neglect.

Takes effect on July 1, 2050.