STAND. COM. REP. NO. 880-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 2416

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2416, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this measure is to exempt from the conveyance tax the conveyance of certain properties that had been furnished as transient accommodations during a certain time period and for which all relevant taxes have been paid.

Your Committee received testimony in support of this measure from the Office of the Governor and one individual. Your Committee received comments on this measure from the Department of Taxation; Tax Foundation of Hawaii; and UNITE HERE Local 5.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2416, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

KYLE T. YAMASHITA, Chair