HB 1045 Summary

• Amends Section 237-30.5 (Hawaii Revised Statutes) to require persons collecting rent on behalf of real property owners to file annual information with the Department of Taxation by January 31, including owner name, address, social security/tax identification number, general excise tax number, and total rent collected by county.

• Amends Section 237D-8.5 to establish similar annual reporting requirements for persons collecting gross rental proceeds on behalf of transient accommodation operators, including operator identification and transient accommodations tax registration number.

• Requires rent collectors to provide property owners/operators with a copy of filed information and a notice explaining that tax forms have been filed with the Department of Taxation on or before January 31 each year.

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

• Takes effect July 1, 2050.