HOUSE OF REPRESENTATIVES

H.B. NO.

886

TWENTY-SEVENTH LEGISLATURE, 2013

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO EXEMPTION FROM STATE TAX ON PUBLIC HOUSING AGENCY INCOME AND OBLIGATIONS.

 

 

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

 


     SECTION 1.  Chapter 356D, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§356D-     Exemption from tax on income and obligations.  Income earned and obligations issued by a nonprofit entity determined to constitute a "public housing agency" pursuant to section 3(6) of the United States Housing Act of 1937, as amended, and which income and obligations are declared by the United States Department of Housing and Urban Development to be exempt from all taxation imposed by the United States pursuant to section 11(b) of the Act, shall be exempt from all taxation now or hereafter imposed by the State."

     SECTION 2.  Section 201H-37, Hawaii Revised Statutes, is repealed.

     ["[§201H-37]  Exemption from tax on income and obligations.  Income earned and obligations issued by a nonprofit entity determined to constitute a "public housing agency" pursuant to section 3(6) of the United States Housing Act of 1937, as amended, and which income and obligations are declared by the United States Department of Housing and Urban Development to be exempt from all taxation imposed by the United States pursuant to section 11(b) of the Act, shall be exempt from all taxation now or hereafter imposed by the State."]

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

BY REQUEST


 


 

Report Title:

Hawaii Public Housing Authority; Exemption from Tax on Income and Obligations; Housekeeping

 

Description:

Moves the statute that exempts income earned and obligations issued by a nonprofit entity determined to constitute a "public housing agency" from all state taxes where they are declared to be exempt from all federal taxes under section 11(b) of the United States Housing Act of 1937, by repealing section 201H-37, Hawaii Revised Statutes (HRS), and re-enacting it as a section in chapter 356D, HRS.

 

 

 

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