HOUSE OF REPRESENTATIVES

THE TWENTY-FIFTH LEGISLATURE

REGULAR SESSION OF 2010

 

COMMITTEE ON FINANCE

Rep. Marcus R. Oshiro, Chair

Rep. Marilyn B. Lee, Vice Chair

 

Rep. Henry J.C. Aquino

Rep. Scott Y. Nishimoto

Rep. Karen Leinani Awana

Rep. Roland D. Sagum, III

Rep. Tom Brower

Rep. James Kunane Tokioka

Rep. Isaac W. Choy

Rep. Jessica Wooley

Rep. Denny Coffman

Rep. Kyle T. Yamashita

Rep. Sharon E. Har

Rep. Lynn Finnegan

Rep. Gilbert S.C. Keith-Agaran

Rep. Gene Ward

Rep. Chris Lee

 

 

NOTICE OF DECISION MAKING

 

DATE:

Friday, February 12, 2010

TIME:

4:10 P.M.

PLACE:

Conference Room 308

State Capitol

415 South Beretania Street

 

A G E N D A #  3

 

The following measure(s) were previously heard on Wednesday, February 10, Agenda # 3

 

HB 2874

Status

RELATING TO THE TRANSIENT ACCOMMODATIONS TAX.

Temporarily increases from 7/1/2010 to 6/30/2015 the transient accommodations tax rate on time share units.

 

FIN

HB 2699

Status

RELATING TO TAXATION.

Provides that the transient accommodation tax shall be assessed and collected at a minimum rate of $8 per day.  Effective 7/1/10.

 

FIN

HB 2700

Status

RELATING TO TAXATION.

Imposes the general excise tax and the transient accommodations tax on gross rental proceeds received from a rewards club central fund to the operator of a transient accommodation.

 

FIN

HB 2595

Status

RELATING TO GENERAL EXCISE TAX.

Precludes a taxpayer from utilizing a general excise tax benefit, including exemptions, deductions, lower rates, or income splitting, unless the taxpayer follows all administrative requirements.  Creates trust fund liability for revenues collected by a business as a tax recovery.

 

FIN

HB 2597

Status

RELATING TO GENERAL EXCISE TAX ON INSURANCE PRODUCERS.

Adjusts the rate of the general excise tax assessed on insurance commissions by making it equivalent to the tax rate paid by other commission agent counterparts.

 

FIN

HB 2879

Status

RELATING TO STATE FUNDS.

Imposes a general excise tax surcharge upon gross income or gross proceeds comprised of state non-general funds.  Imposes a public service company tax surcharge upon gross income comprised of state non-general funds.  Imposes an insurance premium tax surcharge upon gross premiums, gross underwriting profits, and risk premiums comprised of state non-general funds.  Takes effect on 7/1/2010 and sunsets on 6/30/2015.

 

FIN

HB 2882

Status

RELATING TO TAXATION.

Imposes the general excise tax at a 4% rate on the gross income from the sale of securities.  Repeals the general excise tax exemption for stock or future exchanges.  Takes effect on 10/01/10 and sunsets on 06/30/15, except that the repeal of the exchange exemption shall be permanent.

 

FIN

HB 2884

Status

RELATING TO TAXATION.

Imposes the general excise tax at the rate of 4% on the death benefits and other gross income derived by a provider of a life settlement contract.  Takes effect on 07/01/10 and sunsets on 06/30/15.

 

FIN

NO TESTIMONY WILL BE ACCEPTED.

 

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 [email protected] at least 24 hours prior to the hearing for arrangements.  Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.

 

For further information, please call the Committee Clerk at 586-6200.

 

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