STAND. COM. REP. 706

Honolulu, Hawaii

, 2003

RE: H.B. No. 1628

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1628 entitled:

"A BILL FOR AN ACT RELATING TO EDUCATIONAL LOANS,"

begs leave to report as follows:

The purpose of this bill is to establish an income tax deduction for interest on educational loans paid by primary health care providers with a gross income of less than $80,000, or $100,000 for those providers that file jointly. The deduction shall only apply to a primary health care provider who:

(1) Is not a qualified business under the Enterprise Zone (EZ) Law; and

(2) Has established a new practice as a health care provider in an EZ on:

(A) Hawaii, Kauai, or Maui counties;

(B) The North Shore of Oahu, Koolauloa; or

(C) The Leeward Coast of Oahu in Makaha, Waianae, Maili, or Nanakuli.

The Hawaii Dental Association supported this bill. The Department of Taxation and Tax Foundation of Hawaii offered comments.

Your Committee has amended this measure by making technical, nonsubstantive amendments for purposes of style and clarity.

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. 1628, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1628, H.D. 1, 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