STAND. COM. REP. NO. 758

Honolulu, Hawaii

, 2005

RE: H.B. No. 957

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 957 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this bill is to establish an earned income tax credit equal to 20 percent of the earned income credit allowed under section 32 of the Internal Revenue Code.

3Point, League of Women Voters, the Hawaii Alliance for Community Based Economic Development, Aloha United Way, Family Independence Initiative – Hawaii, National Association of Social Workers, Alu Like, Inc., Hawaii HomeOwnership Center, Hawaiian Homestead Technology, Inc., and several concerned individuals testified in support of this measure. The Hawaii Government Employees Association, AFSCME Local 152, AFL-CIO supported the intent of this bill. The Department of Taxation opposed this measure. The Tax Foundation of Hawaii provided comments.

Your Committee has amended this bill by:

(1) Changing the effective date to July 1, 2020, to promote further discussion; and

(2) Making technical, nonsubstantive amendments for clarity and style.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 957, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 957, H.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT TAKAMINE, Chair