THE TWENTY-SEVENTH LEGISLATURE
REGULAR SESSION OF 2014
Senator David Y. Ige, Chair |
Senator Michelle N. Kidani, Vice Chair |
NOTICE OF HEARING
DATE: |
Wednesday, February 12, 2014 |
TIME: |
10:30 a.m. |
PLACE: |
Conference Room 211 State Capitol 415 South Beretania Street |
A G E N D A
RELATING TO TAX CREDITS. Amends the refundable food/excise tax credit. Ties the credit to increases in the Consumer Price Index.
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RELATING TO TAXATION. Establishes a refundable state Earned Income Tax Credit. Requires the Department of Taxation to provide a report to the Legislature, Governor, and the public of the Earned Income Tax Credit's usage for the previous year.
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RELATING TO INCOME TAX CREDITS. Amends income tax credit for low-income household renters to adjust for inflation.
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RELATING TO RESEARCH ACTIVITIES. Clarifies that sections 41 and 280C(c) of the Internal Revenue Code shall be relied upon for calculating the state tax credit for research activities except that references to the base amount shall not apply and credit for all qualified research expenses may be taken without regard to the amount of expenses for previous years.
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RELATING TO THE GENERAL EXCISE TAX COLLECTION DATE. Amends the date of filing of monthly, quarterly, and semiannual general excise tax returns from the 20th day of the respective applicable month to the last day of the month. Effective upon approval. Applicable to returns and payments after 07/01/14.
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Decision Making to follow, if time permits.
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Testimony may be submitted up to 24 hours prior to the start of the hearing.
FOR AMENDED NOTICES: Measures that have been deleted are stricken through and measures that have been added are underscored. If a measure is both underscored and stricken through, that measure has been deleted from the agenda.
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FOR FURTHER INFORMATION, PLEASE CALL THE WAM CLERK AT (808)586-6800.
This hearing will be on Twitter: https://twitter.com/HI_Senate_WAM.
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_____________________________________ Senator David Y. Ige Chair |
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