Bill Text: HI SB1422 | 2021 | Regular Session | Introduced
Bill Title: Relating To Property.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2021-02-01 - Referred to WAM. [SB1422 Detail]
Download: Hawaii-2021-SB1422-Introduced.html
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THE SENATE |
S.B. NO. |
1422 |
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THIRTY-FIRST LEGISLATURE, 2021 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to property.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. (a) There is imposed a tax on the disposition of residential real property to nonresident buyers. This tax shall be paid by the nonresident buyer during the transaction.
(b) In addition to any other taxes, there is imposed a tax of on the disposition of real property intended to be used as a transient accommodations rental. This tax shall be paid by the buyer during the transaction.
(c) For the purposes of this section, "nonresident" means an individual who does not file taxes as a resident of Hawaii.
SECTION 2. This Act shall take effect on July 1, 2021.
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INTRODUCED BY: |
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Report Title:
Taxes; Residential Real Property; Conveyance; Nonresidents
Description:
Imposes a tax on the disposition of residential property purchased by nonresidents or foreign buyers.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
