THE THIRTIETH LEGISLATURE
REGULAR SESSION OF 2019
Senator Stanley Chang, Chair |
Senator Dru Mamo Kanuha, Vice Chair |
NOTICE OF HEARING
DATE: |
Thursday, February 7, 2019 |
TIME: |
1:20 p.m. |
PLACE: |
Conference Room 225 State Capitol 415 South Beretania Street |
A G E N D A
RELATING TO TAXATION. Eliminates the home mortgage interest deduction for second homes under Hawaii income tax law. Requires the department of taxation to calculate the amount of state revenue gained by eliminating the deduction and transfer an equivalent amount of income tax revenue into the rental housing revolving fund.
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HOU, WAM |
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RELATING TO THE CONVEYANCE TAX. Increases the rate of real estate conveyance tax for properties with a value of at least $2,000,000. Amends the calculation for the amount of conveyance taxes to be deposited into the rental housing revolving fund. Exempts from conveyance taxes documents and instruments conveying real property subject to a government assistance program and used for the provision of affordable housing for qualified persons in the State.
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HOU, WAM |
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RELATING TO HOUSING. Authorizes the issuance of general obligation bonds to be appropriated into and out of the rental housing revolving fund.
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HOU, WAM |
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RELATING TO RENT TO BUILD EQUITY. Requires developers of housing projects that are exempt from certain laws to enter into profit-sharing agreements with the tenants of those properties.
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HOU, WAM |
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RELATING TO INDIVIDUAL HOUSING ACCOUNTS. Establishes the Individual Housing Accounts Savings Board to administer the Individual Housing Accounts Savings Program and Individual Housing Accounts Savings Program administrative fund. Requires the board to annually report to the governor and legislature. Makes an appropriation.
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HOU, WAM/JDC |
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RELATING TO INDIVIDUAL HOUSING ACCOUNTS. Allows taxpayers to open an individual housing account in the name of the taxpayer's dependent. Authorizes low-income residents to establish an individual housing account to make payments for first month's rent or a rental deposit or to provide funding for downpayment assistance or fund closing costs. Includes community development financial institutions as an authorized trustee. Authorizes direct deposits into an individual housing account.
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HOU, WAM/JDC |
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Decision Making to follow, if time permits.
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Testimony may be submitted up to 24 hours prior to the start of the hearing.
FOR AMENDED NOTICES: Measures that have been deleted are stricken through and measures that have been added are underscored. If a measure is both underscored and stricken through, that measure has been deleted from the agenda.
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FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT (808) 586-6802.
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_____________________________________ Senator Stanley Chang Chair |
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