CONFERENCE COMMITTEE REP. NO.153-06

Honolulu, Hawaii

, 2006

RE: H.B. No. 1800

H.D. 1

S.D. 1

C.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1800, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SALE OF REAL PROPERTY,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this bill is to address the issue of speculative real estate sales in Hawaii by increasing the income tax withheld on the sale of real property in Hawaii by a non-resident seller from five to 8.25 percent of the amount realized from the sale.

Your Committee on Conference has amended this bill by changing its effective date to upon approval.

 

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1800, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1800, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________

RON MENOR, Chair

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ROBERT N. HERKES, Co-Chair

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BRIAN T. TANIGUCHI, Co-Chair

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SCOTT NISHIMOTO, Co-Chair