HOUSE OF REPRESENTATIVES

THE TWENTY-FOURTH LEGISLATURE

REGULAR SESSION OF 2008

 

COMMITTEE ON FINANCE

Rep. Marcus R. Oshiro, Chair

Rep. Marilyn B. Lee, Vice Chair

 

Rep. Karen Leinani Awana

Rep. Sharon E. Har

Rep. Bob Nakasone

Rep. Kymberly Marcos Pine

Rep. Della Au Belatti

Rep. Jon Riki Karamatsu

Rep. Karl Rhoads

Rep. Gene Ward, Ph.D.

Rep. Tom Brower

Rep. Michael Y. Magaoay

Rep. Roland D. Sagum, III

 

Rep. Mele Carroll

Rep. Joey Manahan

Rep. James Kunane Tokioka

 

Rep. Faye P. Hanohano

Rep. John Mizuno

Rep. Colleen Rose Meyer

 

 

AMENDED NOTICE OF HEARING

 

DATE:

Tuesday, February 26, 2008

TIME:

10:00 A.M.

PLACE:

Conference Room 308

State Capitol

415 South Beretania Street

 

A M E N D E D A G E N D A # 1

 

HB 584, HD1

(HSCR208)

Status

 

(Email Testimony)

 

RELATING TO TAXATION.

Provides a tax credit to high technology businesses that train high school students in a cooperative education program.

 

EDB, FIN

HB 2778, HD1

(HSCR288-08)

Status

 

(Email Testimony)

 

RELATING TO TAX CREDITS.

Requires DBEDT to report on the social and economic impact of State tax credits.

 

EDB, FIN

HB 3191, HD1

(HSCR677-08)

Status

 

(Email Testimony)

 

RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE.

Amends Hawaii's income tax law to conform with changes to the Internal Revenue Code.

 

FIN

HB 2860, HD2

(HSCR540-08)

Status

 

(Email Testimony)

 

RELATING TO TAXATION.

Exempts from general excise and use taxes the fuel sold from a foreign-trade zone for intrastate air transportation by common carriers.

 

EDB, TRN, FIN

HB 2922

(HSCR448-08)

Status

 

(Email Testimony)

 

RELATING TO FUEL TAX.

Clarifies that the license tax on diesel fuel is 1 cent, rather than 2 cents if used in power-generating facilities.

 

TRN, EEP, FIN

HB 2306, HD1

(HSCR346-08)

Status

 

(Email Testimony)

RELATING TO GENERAL EXCISE TAXATION.

Exempts from the general excise tax amounts received by managed care support contractors as reimbursements of costs or advances made pursuant to a contract for the administration of the federal TRICARE program.

 

PSM, FIN

HB 2739, HD1

(HSCR133-08)

Status

 

(Email Testimony)

RELATING TO STATE ENTERPRISE ZONES.

Allows agricultural businesses to continue to qualify for zone benefits in case of force majeure events; includes leased and jointly employed workers in hiring formulas; changes schedule of hiring increases; counts value-added agricultural product retail sales towards qualification for tax credits; disallows general excise tax exemption for agricultural product retail sales.

 

EDB/AGR, FIN

HB 3008, HD1

(HSCR327-08)

Status

 

(Email Testimony)

 

RELATING TO QUALIFIED IMPROVEMENT TAX CREDIT.

Provides a tax credit for improvements made to federally qualified health centers.

 

HSH/HLT, FIN

HB 2985, HD1

(HSCR367-08)

Status

 

(Email Testimony)

 

RELATING TO TAXATION.

Provides a tax credit equal to 15% of the costs of hotel renovations.

 

TAC, FIN

HB 3059

(HSCR586-08)

Status

 

(Email Testimony)

RELATING TO LOW-INCOME HOUSING TAX CREDITS.

Reduces the period over which state low-income housing tax credits are taken from 10 years to 5 years.

 

HSH, FIN

 

 

 

 

THE COMMITTEE ON FINANCE WILL ACCEPT COMMENTS ON THE FOLLOW PROPOSED HOUSE DRAFTS

 

HB 584, HD1

(HSCR208)

Status

 

(Email Testimony)

RELATING TO TAXATION.

Proposed HD2: Provides tax credit to resident taxpayers for long-term care insurance premiums at lesser of $2,500 or 50% of the amount of the insurance premium paid. Prohibits a medical expense deduction for long-term care insurance cost if long-term care tax credit is claimed.

 

EDB, FIN

 

 

 

Copies of the proposed HD2 are available in room 306 and on the Legislature's Web site: http://www.capitol.hawaii.gov.

 

 

HB 2778, HD1

(HSCR288-08)

Status

 

(Email Testimony)

RELATING TO TAX CREDITS.

Proposed HD2: Grants tax credit to small businesses at the lesser of 50% of premiums or $500 per employee for purchase of long-term care insurance for its employees. Defines small business as businesses employing less than 100 full-time or part-time workers.

 

EDB, FIN

 

 

 

Copies of the proposed HD2 are available in room 306 and on the Legislature's Web site: http://www.capitol.hawaii.gov.

 

 

 

 

 

 

DECISION MAKING TO FOLLOW

 

Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing with a transmittal cover indicating:

     Testifier's name with position/title and organization;

     The date and agenda no. of the hearing;

     Measure number;

     If you will be testifying in person or submitting written testimony only;

     The Committee the comments are directed to; and

     The number of copies the Committee is requesting.

 

While every effort will be made to copy, organize, and collate all testimony received, materials received on the day of the hearing or improperly identified or directed to the incorrect office, may be distributed to the Committee after the hearing.

 

Submit testimony in ONE of the following ways:

PAPER: 2 copies to Room 306 in the State Capitol. It is required that the copies be on one side of an 8 " X 11" sheet;

FAX: For comments less than 5 pages in length, transmit to 586-6001 (Oahu) or 1-800-535-3859 (Neighbor Islands);

OR

EMAIL: For comments less than 5 pages in length, transmit to FINtestimony@Capitol.hawaii.gov. Please include the measure number, date of hearing, and agenda no. in the subject line or click on the appropriate "Email Testimony" link above.

 

Testimony submitted will be placed on the Legislative Web site after the hearing adjourns. This public posting of testimony on the Web site should be considered when including personal information in your testimony.

 

If you require special assistance or auxiliary aids and/or services to participate in the House public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the Committee Clerk at 586-6200 or email your request for an interpreter to HouseInterpreter@Capitol.hawaii.gov at least 24 hours prior to the hearing for arrangements. Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.

 

Selected meetings are broadcast live. Check the current legislative broadcast schedule on the "Capitol TV" Web site at www.capitoltv.org OR call 550-8074.

 

 

 

 

 

________________________________________

Rep. Marcus R. Oshiro

Chair