STAND. COM. REP. NO. 710

Honolulu, Hawaii

, 2005

RE: S.B. No. 1410

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1410 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this measure is to provide Hawaii residents an earned income tax credit equal to five per cent of earned income tax credit provided under the Internal Revenue Code.

Your Committee is in agreement with the intent of this measure but has left the amount of the tax credit, stated as a per cent of the federal earned income tax credit, unspecified to facilitate further discussion on this matter. Your Committee has also made technical nonsubstantive changes for purposes of clarity and consistency.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1410, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1410, S.D. 1, and be placed on the calendar for Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair