Informing the Legislature that on June 21, 2024, the Governor signed the following bill into law: HB2485 HD1 SD2 (ACT 076).

This bill, signed into law by Governor Josh Green on June 21, 2024, updates state tax administration rules to affect landlords, property managers, and the Hawaii Department of Taxation. It establishes a $20 fee for each tax clearance application and requires anyone collecting rent on behalf of a property owner to file specific information with the tax department. Additionally, the bill mandates that rental agreements include a bold notice stating that general excise taxes must be paid on gross rents and sets a $500 fine for failing to comply with these filing and notification requirements.