Bill Text: HI HB1724 | 2024 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2024-01-24 - Referred to FIN, referral sheet 1 [HB1724 Detail]
Download: Hawaii-2024-HB1724-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1724 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 237, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§237-
Exemption for the sale of
precious metal bullion. (a)
There shall be exempted from, and excluded from the measure of, the
taxes imposed by this chapter all of the gross proceeds or income arising from
the sale of precious metal bullion within the State.
(b)
As used in this section, "precious metal bullion" means coins,
bars, or rounds, minted primarily of refined gold, silver, or other precious
metals, that are:
(1) Marked and valued by their weight, purity, and content; or
(2) Minted by a government authority."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
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Report Title:
General Excise Tax; Exemptions; Precious Metal Bullion
Description:
Exempts the sale of precious metal bullion from the general excise tax.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
