STAND. COM. REP. NO. 2321

 

Honolulu, Hawaii

                

 

RE:    S.B. No. 2294

       S.D. 1

 

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 2294 entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to amend the allowable income thresholds of the tax credit for expenses for household and dependent care services necessary for gainful employment.

 

     Your Committee received testimony in support of this measure from the Hawaii Appleseed Center for Law and Economic Justice and Hawaii Children's Action Network Speaks!

 

     Your Committee received comments on this measure from the Department of Taxation and Tax Foundation of Hawaii.

 

     Your Committee finds that adjusting the income tax brackets of this tax credit will allow families to claim a more equitable portion of their expenses as a tax credit and thereby continue to pay for child, senior, and other dependent care and thus remain engaged in the workforce.

 

     Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

 

     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. 2294, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2294, 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,

 

 

 

________________________________

DONOVAN M. DELA CRUZ, Chair