STAND. COM. REP. NO.831-02
Honolulu, Hawaii
, 2002
RE: S.B. No. 2829
S.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Economic Development and Business Concerns, to which was referred S.B. No. 2829, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO TAXATION OF PERSONS WITH IMPAIRED SIGHT OR HEARING OR WHO ARE TOTALLY DISABLED THAT ARE ENGAGED IN BUSINESS,"
begs leave to report as follows:
The purpose of this bill is to extend the general excise tax (GET) benefits of those who are blind, deaf, or totally disabled by applying:
(1) The 0.5 percent GET rate given to corporations owned by individuals who are blind, deaf, or totally disabled, to:
(A) Partnerships all of whose partners are blind, deaf, or totally disabled; and
(B) Limited liability companies all of whose members are blind, deaf, or totally disabled;
and
(2) The $2,000 GET exemption for blind, deaf, or totally disabled persons to all three of these business entities above.
The Department of Taxation testified in support of this measure. The Tax Foundation of Hawaii provided comments.
As affirmed by the record of votes of the members of your Committee on Economic Development and Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2829, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,
____________________________ LEI AHU ISA, Chair |
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