Honolulu, Hawaii
Speaker, House of Representatives
Twenty-Fourth State Legislature
State of Hawaii
Sir:
Your Committee on Water, Land, Ocean Resources & Hawaiian Affairs, to which was referred H.B. No. 252 entitled:
"A BILL FOR AN ACT RELATING TO CONVEYANCE TAXES FOR SPECULATIVE SALES,"
begs leave to report as follows:
The purpose of this bill is to increase the conveyance tax rates for speculative sales.
The Trust for Public Land, Sierra Club - Hawaii Chapter, Conservation Council for Hawaii, the Nature Conservancy of Hawaii, and a concerned individual testified in support of this bill. The Department of Land and Natural Resources supported the intent of this measure. Wyndham Vacation Ownership, Inc., opposed this measure. The Department of Taxation provided comments.
As affirmed by the record of votes of the members of your Committee on Water, Land, Ocean Resources & Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 252 and recommends that it pass Second Reading and be referred to the Committee on Economic Development & Business Concerns.
Respectfully submitted on behalf of the members of the Committee on Water, Land, Ocean Resources & Hawaiian Affairs,
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KEN ITO, Chair |