STAND. COM. REP. NO. 586-04
Honolulu, Hawaii
, 2004
RE: H.B. No. 1712
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 1712 entitled:
"A BILL FOR AN ACT RELATING TO WITHHOLDING TAX,"
begs leave to report as follows:
The purpose of this bill is to provide taxpayers with a larger share of their available income that can be used to help stimulate our economy. This bill changes the maximum rate at which income taxes shall be withheld from eight percent to an unspecified amount.
The Tax Foundation of Hawaii offered comments, and the Department of Taxation opposed this bill.
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. 1712 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,
____________________________ DWIGHT Y. TAKAMINE, Chair |
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