Bill Text: HI SB2260 | 2012 | Regular Session | Amended
Bill Title: General Excise Tax Exemption; Homeless
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: (Engrossed - Dead) 2012-03-21 - (H) The committee(s) on HSG recommend(s) that the measure be deferred. [SB2260 Detail]
Download: Hawaii-2012-SB2260-Amended.html
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THE SENATE |
S.B. NO. |
2260 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
S.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO TAXATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 237, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§237‑ Exemption for rental income; transitional shelter for homeless persons. (a) There shall be exempted from, and excluded from the measure of, the taxes imposed by this chapter, all of the gross proceeds arising from the leasing of real property, whether by lease or sublease on the whole or a portion of the property, received by an owner or lessor, as applicable, from:
(1) Nonprofit organizations registered under section 501(c) of the Internal Revenue Code;
(2) State, county, or federal agencies; or
(3) Provider agencies contracted by the department of human services pursuant to section 346-365;
provided that the real property is used to provide transitional shelter for homeless persons, and there is a signed lease or rental agreement on the real property to which the nonprofit organization, government agency, or contracted agency intending to claim the exemption is a party.
(b) For purposes of this section:
"Homeless" shall have the same meaning as in section 346‑361.
"Real property" shall have the same meaning as in section 356D-1, and includes the whole real property or a portion thereof.
"Transitional shelter for homeless persons" means real property that is used to provide up to twenty-four months of temporary shelter to homeless families or individuals."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050, and apply to gross income or gross proceeds received after June 30, 2012.
Report Title:
General Excise Tax Exemption; Homeless
Description:
Exempts from general excise taxes rents received from qualifying nonprofits and government agencies that provide homeless transitional shelters. Effective 07/01/2050. (SD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
