The 2010 Hawaii State Legislature is wrapping up its session. We previously reported on several Bills of relevance, such as the ones applicable to the Ala Wai Harbor. Here is another Bill that could be of concern. If the original SB 2402 gets passed, then 37 transactions now exempt from the general excise tax (GET) would be subject to a 1% GET. These include gross income generated by nonprofit organizations from certain conventions, etc, and – of relevance to us – maintenance fees paid to condominium associations. Here is a link to a April 7, 2010 article in Star Bulletin about this. There are though reports of proposals to trim down that list of 37 transactions. Representative Tom Brower (Waikiki, Ala Moana, Kakaako), whose district consists of approx. 95% condominiums and cooperatives, introduced on April 6 a floor amendment to remove from the 1% increase in taxation one of the 37 classes the current bill would tax: condominium maintenance and homeowners fees. You could support his effort by email to repbrower@capitol.hawaii.gov or fax at 808-586-8524. If you do so, then you’d better do it ASAP!
