Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection, and Housing, to which was referred H.B. No. 1800, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to increase the amount of tax withheld on the disposition of real property in Hawaii by non-resident persons.

Testimony in support of this measure was submitted by Niwao & Roberts, Certified Public Accountants, A Professional Corporation; and the Hawaii Association of Public Accountants. Testimony in opposition to this measure was submitted by the Hawaii Association of Realtors. Comments on this measure were submitted by the Department of Taxation and the Tax Foundation of Hawaii.

Your Committee finds that this measure requires further discussion and has passed it out unamended, retaining the effective date of July 1, 2020.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection, and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1800, H.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.