HB 486 Hawaii House · 2017 Regular Session

RELATING TO THE MORTGAGE INTEREST DEDUCTION.

Summary

Eliminates the mortgage interest deduction for second homes under the Hawaii Income Tax Law. Specifies that the revenue gain attributable to this measure be deposited into the Rental Housing Revolving Fund. Requires the Department of Budget and Finance, in consultation with the Department of Taxation, to submit reports on the administration of this measure to the Legislature prior to the 2018, 2019, 2020, 2021, and 2022 Regular Sessions. (HB486 HD2)

Bill status in committee 3 of 4 stages cleared

Introduction

Jan 2017

Committee Review

Mar 2017

Senate Passage

Mar 2017

Governor

Introduced Jan 20, 2017 Last action Mar 9, 2017

Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 9, 2017

Committee

Referred to WAM.

legislature

Mar 9, 2017

Introduced

Received from House (Hse. Com. No. 265).

legislature

Mar 7, 2017

Legislature · Passed

Passed Third Reading as amended in HD 2 with none voting aye with reservations; Representative(s) Cachola, Matsumoto, Tupola, Ward voting no (4) and Representative(s) Ichiyama excused (1). Transmitted to Senate.

legislature

Feb 23, 2017

Legislature · Passed

The committees on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 13 Ayes: Representative(s) Luke, Cullen, Choy, DeCoite, Gates, Holt, Keohokalole, Kobayashi, LoPresti, Lowen, Nakamura, Quinlan, Yamashita; Ayes with reservations: none; 3 Noes: Representative(s) Cachola, Tupola, Ward; and 1 Excused: Representative(s) Tokioka.

legislature

Feb 17, 2017

Committee

Reported from HSG (Stand. Com. Rep. No. 479) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

legislature

Feb 14, 2017

Legislature · Passed

The committees on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 6 Ayes: Representative(s) Brower, Nakamura, Aquino, Hashem, Quinlan, San Buenaventura; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) McDermott.

legislature

Feb 9, 2017

Legislature · Passed

The committee(s) on HSG recommend(s) that the measure be deferred.

legislature

Jan 23, 2017

Committee

Referred to HSG, FIN, referral sheet 2

legislature

Jan 20, 2017

Introduced

Pending introduction.

legislature

1 primary · 0 co-sponsors