Measure Title: RELATING TO LEASEHOLD CONVERSION.
Report Title: Income Tax; Exemption; Leased Fee Interest Sale; Condominiums; Cooperative Projects; Planned Community Associations; Capital Gains
Description: 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 does not apply to taxable years beginning after 12/31/2029. Effective 7/1/3000. (HD1)
Companion:  SB884
Package: None
Current Referral: CPN, WAM
Introducer(s): TAM, AMATO, BELATTI, GANADEN, MARTEN, MIZUNO
Act:

Sort by Date Status Text
12/11/2023DCarried over to 2024 Regular Session.
3/9/2023SReferred to CPN, WAM.
3/7/2023SPassed First Reading.
3/7/2023SReceived from House (Hse. Com. No. 204).
3/3/2023HPassed Third Reading with Representative(s) Cochran voting aye with reservations; Representative(s) Kapela voting no (1) and Representative(s) Alcos, Matayoshi excused (2). Transmitted to Senate.
3/3/2023HReported from FIN (Stand. Com. Rep. No. 976), recommending passage on Third Reading.
2/24/2023HThe committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 15 Ayes: Representative(s) Yamashita, Kitagawa, Aiu, Chun, Kahaloa, Kila, Kobayashi, Lamosao, Morikawa, Nishimoto, Poepoe, Takenouchi, Alcos, Ward; Ayes with reservations: Representative(s) Cochran; Noes: none; and 1 Excused: Representative(s) Garrett.
2/22/2023HBill scheduled to be heard by FIN on Friday, 02-24-23 10:00AM in House conference room 308 VIA VIDEOCONFERENCE.
2/17/2023HReport adopted; referred to the committee(s) on FIN with none voting aye with reservations; Representative(s) Kapela voting no (1) and Representative(s) Marten excused (1).
2/17/2023HReported from CPC (Stand. Com. Rep. No. 755), recommending referral to FIN.
2/16/2023HThe committee on CPC recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 11 Ayes: Representative(s) Nakashima, Sayama, Amato, Belatti, Hashem, Hussey-Burdick, Gates, Lowen, Onishi, Tam, Pierick; Ayes with reservations: none; Noes: none; and Excused: none.
2/13/2023HBill scheduled to be heard by CPC on Thursday, 02-16-23 2:00PM in House conference room 329 VIA VIDEOCONFERENCE.
2/9/2023HPassed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with none voting aye with reservations; Representative(s) Kapela voting no (1) and Representative(s) Kila, Lamosao excused (2).
2/9/2023HReported from HSG (Stand. Com. Rep. No. 215) as amended in HD 1, recommending passage on Second Reading and referral to CPC.
2/8/2023HThe committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Hashimoto, Aiu, Kila, Kitagawa, Marten, Onishi, Matsumoto; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) Todd.
2/3/2023HBill scheduled to be heard by HSG on Wednesday, 02-08-23 9:30AM in House conference room 312 VIA VIDEOCONFERENCE.
1/30/2023HReferred to HSG, CPC, FIN, referral sheet 3
1/25/2023HIntroduced and Pass First Reading.
1/24/2023HPending introduction.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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HB1121 HD1
All Versions of this Measure
HB1121_HD1 Pdf File
HB1121 Pdf File
Committee Reports
HB1121_HD1_HSCR215_ Pdf File
HB1121_HD1_HSCR755_ Pdf File
HB1121_HD1_HSCR976_ Pdf File
Testimony
HB1121_TESTIMONY_HSG_02-08-23_
HB1121_HD1_TESTIMONY_CPC_02-16-23_
HB1121_HD1_TESTIMONY_FIN_02-24-23_
Hearing Notices
HSG
2/08/23 9:30A
312 VIA VIDEOCONFERENCE
CPC
2/16/23 2:00P
329 VIA VIDEOCONFERENCE
FIN
2/24/23 10:00A
308 VIA VIDEOCONFERENCE