THE SENATE
                 THE TWENTIETH LEGISLATURE
                  REGULAR SESSION OF 1999

                COMMITTEE ON WAYS AND MEANS
             Senator Carol Fukunaga, Co-Chair
              Senator Andrew Levin, Co-Chair

                     NOTICE OF HEARING

        DATE:    Tuesday, February 9, 1999

        TIME:    9:00 a.m.

        PLACE:   Conference Room 211
                 State Capitol
                 415 South Beretania Street


                        A G E N D A


S.B. 1335  RELATING TO THE INCOME TAX                               WAM
        Amends tax tables after December 31, 1998 for personal income
        tax.  Repeals child passenger restraint tax credits.


S.B. 15  RELATING TO TAXATION                                     WAM
        Amends chapter 235; repeals Chapter 235, Part IV,HRS, to repeal
        the corporate income tax law.

S.B. 1173  RELATING TO TAXATION                                     WAM
        Provides income tax rate reductions for corporations, regulated
        investment companies, and real estate trusts and provides
        franchise tax rate reductions for banks and financial
        corporations.


S.B. 1245  RELATING TO THE INCOME TAXATION                          WAM
        Increases income tax deductions for businesses from 50% to 100%
        for meals and entertainment expenses.  Allows business
        entertainment deduction for club dues.


S.B. 32  RELATING TO INCOME TAX                                   WAM
        Conforms state income tax to federal Internal Revenue Code
        exclusion of foreign earned income with limits of, $72,000 in
        1998, with an additional $2,000 exclusion annually until 2002
        and thereafter where exclusion is $80,000.  Authorizes same
        exclusion for income earned out-of-state.


S.B. 55  RELATING TO INCOME TAXATION                              WAM
 
        Increases capital goods income tax credit from 4% to 10% for
        taxable years beginning after 12/31/98, 8% for taxable years
        beginning after 12/31/01, and 4.5% for taxable years beginning
        after 12/31/04.
        
S.B. 218 RELATING TO WATER CONSERVATION                           WAM
        Establishes a credit against income tax liability for taxpayers
        who install water conservation equipment that results in a 10%
        reduction in water use.

S.B. 495 RELATING TO TAXATION                                     WAM
        Provides a job creation income tax credit for large and small
        businesses.  Caps the total amount of tax credit that may be
        claimed in any one year.

S.B. 977 RELATING TO INVESTMENT TAX CREDIT                        WAM
        Establishes a tax credit against income tax liability for
        investments that are made in Hawaii, and stay in Hawaii for at
        least five years.

S.B. 1325  RELATING TO TAXATION                                     WAM
        Provides a tax credit similar to the Hotel Remodeling tax credit
        effective for tax years, 1999-2001.

S.B. 1576  RELATING TO INCOME TAX CREDITS                           WAM
        Establishes an income tax credit for volunteers who particpate
        in community-basd private-volunteer projects that improve
        Hawaii.

S.B. 1180  RELATING TO THE INCOME TAXATION OF NONRESIDENTS          WAM
        Amends method of calculation by reducing allowable exemptions
        and standard deductions for nonresidents to relieve nonresidents
        from using total adjusted gross income as a measure of Hawaii
        income tax liability.


             DECISION MAKING TO FOLLOW, IF TIME PERMITS.


Persons wishing to testify should submit 35 copies of their testimony to
the committee clerk, Room 210, State Capitol, 24 hours prior to the
hearing. Testimony may also be faxed if less than 5 pages in length, to the
Senate Sergeant-At-Arms Office at 586-6659 or 1-800-586-6659 (toll free for
neighbor islands), at least 24 hours prior to the hearing.  When faxing,
please indicate to whom the testimony is being submitted, the date and time
of the hearing, and the required number of copies needed for submittal.

If you require special assistance or auxiliary aids or services to
participate in the public hearing process (i.e., sign language interpreter,
wheelchair accessibility, or parking designated for the disabled), please
contact the committee clerk 24 hours prior to the hearing so arrangements
can be made.

 
Public Folder.  A folder labeled "Public Folder" containing the measures
and testimonies for the hearing will be available for shared use by members
of the public.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6800.



____________________________      _______________________________
Senator Carol Fukunaga            Senator Andrew Levin
Co-Chair                          Co-Chair