STAND. COM. REP. NO. 708

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 655

       S.D. 1

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 655 entitled:

 

"A BILL FOR AN ACT RELATING TO CONVEYANCE TAX,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to require the Director of Taxation to provide the administrator of each county's real property assessment division with an image of all certificates of conveyances filed with the Bureau of Conveyances.

 

     Your Committee received testimony in support of this measure from Gary T. Kurokawa, Administrator, Real Property Assessment Division, City and County of Honolulu.

 

     Your Committee finds that requiring the Director of Taxation to provide the administrator of each county's real property assessment division with an image of all certificates of conveyances filed with the Bureau of Conveyances will enable the counties to promptly track ownership, encumbrances, restrictions, uses, and sales prices of real property for the purpose of determining real property tax assessments.

 

     Your Committee has amended this measure by:

 

     (1)  Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and

 

     (2)  Making technical, nonsubstantive amendments for the purposes of clarity and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 655, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 655, S.D. 1.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DAVID Y. IGE, Chair