Bill Text: HI SB188 | 2010 | Regular Session | Amended
Bill Title: Affordable Housing; Rental Housing Trust Fund
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB188 Detail]
Download: Hawaii-2010-SB188-Amended.html
Report Title:
Affordable Housing; Rental Housing Trust Fund
Description:
Requires a percentage of state conveyance and excise taxes to be paid into the rental housing trust fund; requires a percentage of state conveyance taxes to be paid into the Hawaiian home lands trust fund. (SD1)
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THE SENATE |
S.B. NO. |
188 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO HOUSING.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 237-31, Hawaii Revised Statutes, is amended to read as follows:
"§237-31 Remittances. All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted. The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:
(1) The sum from all general excise tax revenues realized by the State that represents the difference between $45,000,000 and the proceeds from the sale of any general obligation bonds authorized for that fiscal year for the purposes of the state educational facilities improvement special fund shall be deposited in the state treasury in each fiscal year to the credit of the state educational facilities improvement special fund;
(2) A sum, not to exceed $5,000,000, from all general
excise tax revenues realized by the State shall be deposited in the state
treasury in each fiscal year to the credit of the compound interest bond
reserve fund; [and]
(3) A sum, not to exceed the amount necessary to meet
the obligations of the integrated tax information management systems
performance-based contract may be retained and deposited in the state treasury
to the credit of the integrated tax information management systems special
fund. The sum retained by the director of taxation for deposit to the
integrated tax information management systems special fund for each fiscal year
shall be limited to amounts appropriated by the legislature. This paragraph
shall be repealed on July 1, 2005[.]; and
(4) per cent of all general excise tax revenues realized by the State that were generated by the leasing of real property under section 237‑16.5 shall be deposited into the rental housing trust fund established by section 201H‑202."
SECTION 2. Section 247-7, Hawaii Revised Statutes, is amended to read as follows:
"§247-7 Disposition of taxes. All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year:
(1) Ten per cent shall be paid into the land conservation fund established pursuant to section 173A-5;
(2) [Thirty] Fifty per cent shall be
paid into the rental housing trust fund established by section 201H-202; [and]
(3) Twenty-five per cent shall be paid into the natural area reserve fund established by section 195-9; provided that the funds paid into the natural area reserve fund shall be annually disbursed by the department of land and natural resources in the following priority:
(A) To natural area partnership and forest stewardship programs after joint consultation with the forest stewardship committee and the natural area reserves system commission;
(B) Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners, and management of the natural area reserves system pursuant to section 195-3; and
(C) The youth conservation corps established
under chapter 193[.]; and
(4) per cent shall be paid into the Hawaiian home lands trust fund established pursuant to section 213.6, Hawaiian Homes Commission Act of 1920, as amended."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
