STAND. COM. REP. NO.624-02
RE: H.B. No. 2566
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 2566, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE,"
begs leave to report as follows:
The purpose of this bill is to make various amendments to Hawaii's income tax law to conform with changes to the Internal Revenue Code.
The Department of Taxation and Department of Human Resources Development testified in support of this measure. The Tax Foundation of Hawaii submitted comments.
Your Committee has amended this bill by:
(1) Further clarifying the amendments relating to qualified tuition expenses; and
(2) Making technical, nonsubstantive amendments for purposes of clarity and consistency.
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. 2566, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2566, H.D. 2, 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