STAND. COM. REP. NO. 1256

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 514

       H.D. 2

       S.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 514, H.D. 2, entitled:

 

"A BILL FOR AN ACT RELATING TO PUBLIC HOUSING,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to establish, within the chapter of the Hawaii Revised Statutes relating to the Hawaii Public Housing Authority, a state tax exemption for income earned and obligations issued by public housing agencies.

 

     Your Committee received written comments in support of this measure from the Hawaii Housing Finance and Development Corporation.

 

     Your Committee received written comments on this measure from the Hawaii Public Housing Authority and the Tax Foundation of Hawaii.

 

     Your Committee finds that section 201H-37, Hawaii Revised Statutes, presently exempts from state taxation income earned and obligations issued by public housing agencies, pursuant to section 11 of the United States Housing Act of 1937, for the development of low-income housing projects.  Your Committee also finds that this housekeeping measure establishes a state tax exemption from income earned and obligations issued by a public housing agency in the chapter of the Hawaii Revised Statutes that establishes the State's public housing authority.

 

     Your Committee has amended this measure by changing the effective date to upon approval.

 

     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 H.B. No. 514, H.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 514, H.D. 2, S.D. 1.

 

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

 

 

 

____________________________

DAVID Y. IGE, Chair