HOUSE OF REPRESENTATIVES

H.B. NO.

694

TWENTY-SEVENTH LEGISLATURE, 2013

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to taxation.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  Act 60, Session Laws of Hawaii 2009, is amended by amending section 6 to read as follows:

     "SECTION 6.  This Act shall take effect upon approval, provided that:

     (1)  Section 2 shall apply to taxable years beginning after December 31, 2008[;], and shall be repealed on December 31, 2014; provided that section 235-51(a), (b), and (c), Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day before the effective date of this Act;

     (2)  Sections 1 and 3 shall apply to taxable years beginning after December 31, 2010; and

     (3)  On December 31, 2015, this Act shall be repealed and sections 235-2.4(a)[, 235-51(a), (b), and (c),] and 235-54(a), Hawaii Revised Statutes, shall be reenacted in the form in which they read on the day before the effective date of this Act."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Taxation; Income Tax Rates

 

Description:

Repeals the temporary increase in income tax rates established by Act 60, SLH 2009, one year ahead of schedule by changing the sunset date of the increased tax rates from 12/31/2015 to 12/31/2014.

 

 

 

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