HOUSE OF REPRESENTATIVES

THE TWENTY-SECOND LEGISLATURE

REGULAR SESSION OF 2003

COMMITTEE ON FINANCE

Rep. Dwight Y. Takamine, Chair

Rep. Bertha C. Kawakami, Vice Chair

Rep. Jon Riki Karamatsu

Rep. Glenn Wakai

Rep. Sol P. Kaho`ohalahala

Rep. Thomas Waters

Rep. Michael Y. Magaoay

Rep. Kika G. Bukoski

Rep. Romy M. Mindo

Rep. Mark G. Jernigan

Rep. Bob Nakasone

Rep. Colleen R. Meyer

Rep. Scott Y. Nishimoto

Rep. Mark S. Moses

Rep. Maile S.L. Shimabukuro

NOTICE OF HEARING

DATE:

Tuesday, February 25, 2003

TIME:

3:00 p.m.

PLACE:

Conference Room 308

State Capitol

415 South Beretania Street

A G E N D A # 5

HB 1223

HD1

(HSCR583)

RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE.

Amends Hawaii's income tax law to conform with the changes to the Internal Revenue Code.

FIN

HB 879

RELATING TO TAXATION.

Preserves the state credits allowed by the federal estate tax which are being repealed by congressional action.

FIN

HB 146

HD1

(HSCR189)

RELATING TO ECONOMIC DEVELOPMENT.

Authorizes the governor to designate up to eight renaissance zones in the State. Establishes the renaissance review board. Exempts persons located and operating within renaissance zones from up to 100 percent of the person's income and general excise taxes.

EDB, FIN

HB 626

RELATING TO INDIVIDUAL DEVELOPMENT ACCOUNT CONTRIBUTION TAX CREDIT.

Increases the individual development account contribution tax credit from 50% of the amount contributed to 100% of the amount contributed.

FIN

HB 1628

RELATING TO EDUCATIONAL LOANS.

Provides a tax deduction for interest paid on student loans for medical providers that start a new practice in state enterprise zones located in rural areas.

FIN

HB 1410

(HSCR188)

RELATING TO TAX CREDITS.

Provides an income or general excise tax credit to companies that create new jobs.

EDB, FIN

HB 291

HD1

(HSCR286)

RELATING TO THE JOB CREATION INCOME TAX CREDIT.

Establishes a temporary job creation income tax credit.

EDB, FIN

HB 1400

(HSCR128)

RELATING TO HOTEL CONSTRUCTION AND REMODELING TAX CREDIT.

Extends the hotel construction and remodeling tax credit to 6/30/2008, makes the tax credit refundable, and adds a definition of "qualified hotel facility".

TAC/EDB, FIN

HB 1394

HD1

(HSCR288)

RELATING TO TAXATION TO STIMULATE THE ECONOMY.

Provides various tax credits for large-scale construction projects.

EDB, FIN

HB 21

HD1

(HSCR425)

RELATING TO CORPORATE DISCLOSURE.

Requires the department of taxation to report on tax benefits for development assistance programs; counties to disclose real property tax reductions and abatements; disclosure of development assistance; recapture of assistance from recipients who fail to achieve jobs, wage, and benefit goals.

EDB, LAB, FIN

HB 685

HD1

(HSCR490)

RELATING TO ENTERPRISE ZONE.

Directs the governor to work with the city and county of Honolulu to expand existing enterprise zones to areas where commercial real estate have a vacancy rate of fifteen per cent or more. This designation will last for two years from 07/01/2003 to 06/30/2005.

EDB, FIN

HB 90

(HSCR358)

RELATING TO LONG-TERM CARE.

Provides tax credit to resident taxpayers, regardless of adjusted gross income, for long-term care insurance premiums at lesser of $2,500 or 50% of the amount of the insurance premium paid. If the tax credit is claimed, a medical expense deduction for long-term care insurance cost is prohibited.

HLT/HSH, FIN

     

DECISION MAKING TO FOLLOW

PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 35 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) ROOM 306, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS PERSONNEL IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY BE FAXED TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT ARE NEEDED FOR SUBMITTAL.

IT IS ALSO REQUESTED THAT THE COPIES BE ON ONE SIDE OF AN 8-1/2" X 11" SHEET. FOR FURTHER INFORMATION, PLEASE CALL THE FIN COMMITTEE CLERK AT 586-6200.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER, WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE COMMITTEE CLERK AT LEAST 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE.

 

________________________________________

Rep. Dwight Y. Takamine

Chair