Report Title:

General Excise Tax; Boating Special Fund

Description:

Requires an unspecified percentage of GET revenues paid by permittees of vessels used for commercial activities carried out in small boat harbors to be deposited each fiscal year into the boating special fund. Effective 7/1/2006 and repealed on 6/30/2011. (HB1929 HD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

1929

TWENTY-THIRD LEGISLATURE, 2006

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the general excise tax.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 237-31, Hawaii Revised Statutes, is amended to read as follows:

"§237-31 Remittances. All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted. The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:

(1) The sum from all general excise tax revenues realized by the State that represents the difference between $45,000,000 and the proceeds from the sale of any general obligation bonds authorized for that fiscal year for the purposes of the state educational facilities improvement special fund shall be deposited in the state treasury in each fiscal year to the credit of the state educational facilities improvement special fund;

(2) A sum, not to exceed $5,000,000, from all general excise tax revenues realized by the State shall be deposited in the state treasury in each fiscal year to the credit of the compound interest bond reserve fund; [and]

(3) A sum, not to exceed the amount necessary to meet the obligations of the integrated tax information management systems performance-based contract may be retained and deposited in the state treasury to the credit of the integrated tax information management systems special fund. The sum retained by the director of taxation for deposit to the integrated tax information management systems special fund for each fiscal year shall be limited to amounts appropriated by the legislature. This paragraph shall be repealed on July 1, 2005[.]; and

(4) A sum equal to per cent of all general excise tax revenues realized by the State from all permittees under section 200-10(c)(4), whose vessels are used for commercial activities carried out in small boat harbors, shall be deposited in the state treasury in each fiscal year to the credit of the boating special fund."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2006; provided that this Act shall be repealed on June 30, 2011, and that section 237-31, Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day before the effective date of this Act.