THE SENATE

THE TWENTY-THIRD LEGISLATURE

REGULAR SESSION OF 2005

COMMITTEE ON COMMERCE, CONSUMER PROTECTION, AND HOUSING

Senator Ron Menor, Chair

Senator Rosalyn H. Baker, Vice Chair

MEASURES DEFERRED TO THURSDAY, FEBRUARY 17, 2005

TIME:

10:30 am

PLACE:

Conference Room 016

State Capitol

415 South Beretania Street

 

DECISION MAKING ON THE FOLLOWING MEASURE(S):

(Deferred from Tuesday, February 15, 2005)

SB 1010

RELATING TO CONVEYANCE TAX.

Imposes a new conveyance tax on sales of residential condominiums and single family dwellings over $600,000.

CPH, WAM

SB 1858

RELATING TO INCOME TAX.

Enacts an anti-speculation short-term capital gains tax by increasing the capital gains tax on real property sales, based on a graduated scale of the length of time the seller held the property. Requires tax realizations to be deposited into the rental housing trust fund.

CPH, WAM

SB 1852

RELATING TO LOW INCOME HOUSING.

Authorizes the issuance of general obligation bonds for the repair, renovation, and construction of low income housing. Requires the housing and community development corporation of Hawaii to repair all vacant low income housing units by December 31, 2008.

CPH, WAM

SB 798

RELATING TO AFFORDABLE HOUSING.

To prevent revolving funds administered by the Housing and Community Development Corporation of Hawaii (HCDCH) from being transferred to the general fund; to authorize the HCDCH and counties to further streamline state and county land use approvals and entitlements for affordable housing; for chapter 201G projects, to allow HCDCH to deem approved all projects on properties 50 acres and smaller, without Land Use Commission approval; to repeal the Rental Housing Trust Fund Advisory Commission, to replaced the seat on the HCDCH Board currently held by the Rental Housing Trust Fund Advisory Commission chair with a person nominated by the continuum of care systems of each county; to allow the dwelling unit revolving fund to be used for permanent financing; to amend the Rental Housing Trust Fund program to remove impediments to affordable housing development; to increase the portion of the conveyance tax deposited into the Rental Housing Trust Fund from 25 percent to 50 percent; and to provide incentives to private developers to develop affordable housing.

CPH, WAM

     

SB 141

RELATING TO AFFORDABLE HOUSING.

Creates an exemption for the development of workforce housing and affordable housing on leased residential lots.

CPH, JHW

     

 

No testimony will be accepted.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6740.