Bill Text: HI SB2594 | 2010 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Affordable Housing; GET Exemption; Residency Requirement

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed - Dead) 2010-03-19 - (H) Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Pine voting no (1) and Representative(s) Carroll, Chang, Har, Manahan, Morita, M. Oshiro, Tokioka, Ward excused (8). [SB2594 Detail]

Download: Hawaii-2010-SB2594-Amended.html

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STAND. COM. REP. NO. 2330

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2594

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam:

 

     Your Committee on Education and Housing, to which was referred S.B. No. 2594 entitled:

 

"A BILL FOR AN ACT RELATING TO HOUSING,"

 

begs leave to report as follows:

 

     The purpose of this measure is to add a residency requirement for households in a newly constructed or moderately or substantially rehabilitated housing project developed by a qualified person or firm in order for that person or firm to be considered to receive a general excise tax exemption.

 

     Testimony in support of this measure was submitted by one private organization and one individual.  Testimony in opposition to this measure was submitted by one state agency and two private organizations.  Comments on this measure were submitted by one state agency.  Written testimony presented to the Committee may be reviewed on the Legislature's website.

 

     Your Committee finds that during the current economic recession that is being experienced by this State, this measure would provide a financial incentive to developers and owners of rental units for low and moderate income renters and for homeowners residing in new or substantially rehabilitated homes.  Your Committee also finds that this measure establishes a fair playing field for resident individuals and families who, in addition to meeting the low gross annual income requirement, intend to actually reside and live in the affordable rental unit.

 

     Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on this measure.

 

     As affirmed by the record of votes of the members of your Committee on Education and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2594, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2594, S.D. 1, and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Education and Housing,

 

		____________________________ NORMAN SAKAMOTO, Chair