Report Title:

DHHL; Bonds; Tax-Exempt

Description:

Exempts revenue bonds issued by the DHHL from state and county taxes.

HOUSE OF REPRESENTATIVES

H.B. NO.

2665

TWENTY-FIRST LEGISLATURE, 2002

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the department of hawaiian home lands.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The Hawaiian Homes Commission Act, 1920, as amended, is amended by adding a new section to be appropriately designated and to read as follows:

"   . Bonds exempt from taxation. Revenue bonds issued under this Act, and all income therefrom shall be exempt from all state, county, and municipal taxation except inheritance, transfer, and estate taxes."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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