STAND. COM. REP. NO.  708-14

 

Honolulu, Hawaii

                , 2014

 

RE:   H.B. No. 1808

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 1808, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO INCOME TAX CREDITS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to assist low-income households by:

 

     (1)  Increasing the income threshold to claim the low-income household renter tax credit from $30,000 to $59,700;

 

     (2)  Increasing the tax credit from $50 to $146; and

 

     (3)  Adjusting the credit for inflation for taxable years after December 31, 2014.

 

     Goodwill Industries of Hawaii, Inc.; Hawaii Community Assets; Community Alliance on Prisons; Catholic Charities Hawaii; Hawaii Appleseed Center for Law and Economic Justice; Partners in Care; PHOCUSED; and several individuals testified in support of this measure.  The Department of Taxation, Tax Foundation of Hawaii, and an individual provided comments on this measure.

 

     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. 1808, H.D. 1, and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Finance,

 

 

 

 

____________________________

SYLVIA LUKE, Chair