SB 884 Hawaii Senate · 2024 Regular Session

RELATING TO LEASEHOLD CONVERSION.

Summary

Excludes from taxation one hundred per cent of the gain realized by a fee simple owner from the sale of a leased fee interest in units within a condominium project, cooperative project, or planned unit development to the association of apartment owners or the residential cooperative housing corporation of the leasehold units. Applies to taxable years beginning after 12/31/2022 and ending prior to 1/1/2030. Effective 7/1/2050. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2023

Committee Review

Mar 2023

Senate Passage

Mar 2023

House Passage

Governor

Introduced Jan 20, 2023 Last action Dec 11, 2023

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, 2023

Committee

Referred to HSG, CPC, FIN, referral sheet 17

lower

Mar 7, 2023

Introduced

Received from Senate (Sen. Com. No. 300) in amended form (SD 1).

lower

Mar 7, 2023

Upper · Passed

Report Adopted; Passed Third Reading. Ayes, 24; Aye(s) with reservations: Senator(s) Inouye, McKelvey, San Buenaventura. Noes, 0 (none). Excused, 1 (Senator(s) Fukunaga). Transmitted to House.

upper

Mar 1, 2023

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, UNAMENDED. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, Aquino, DeCoite, Inouye, Kanuha, Kidani, Kim, Lee, Moriwaki, Shimabukuro, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 27, 2023

Upper · Passed

The committee(s) on WAM will hold a public decision making on 03-01-23 10:10AM; Conference Room 211 & Videoconference.

upper

Feb 17, 2023

Committee

Reported from CPN (Stand. Com. Rep. No. 613) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Feb 16, 2023

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 10, 2023

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 02-16-23 9:30AM; Conference Room 229 & Videoconference.

upper

Jan 27, 2023

Committee

Referred to CPN, WAM.

upper

Jan 20, 2023

Introduced

Introduced.

upper

2 primary · 1 co-sponsor