STAND. COM. REP. NO.  804

 

Honolulu, Hawaii

                , 2019

 

RE:   H.B. No. 1007

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 1007 entitled:

 

"A BILL FOR AN ACT RELATING TO ADDING THE ROTH OPTION FOR THE DEFERRED COMPENSATION PLAN,"

 

begs leave to report as follows:

 

     The purpose of this measure is to afford participants in the State Deferred Compensation Plan a Roth tax diversification option.

 

     The Department of Human Resources Development supported this measure.  The Tax Foundation of Hawaii provided comments.

 

     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. 1007 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair