CONFERENCE COMMITTEE REP. NO. 164

 

Honolulu, Hawaii

                 , 2015

 

RE:    S.B. No. 555

       S.D. 1

       H.D. 1

       C.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Madam and Sir:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 555, S.D. 1, H.D. 1, entitled:

 

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

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

The purpose of this measure is to relieve the tax burden on low-income individuals and families by amending the refundable food/excise tax credit.

 

Specifically, this measure separately sets forth the amount of the tax credit available to taxpayers filing as heads of households or as married couples filing separate or joint returns, and provides unspecified credit per exemption amounts.

 

Your Committee on Conference finds that Hawaii has the nation's highest cost of living and that the refundable food/excise tax credit was originally devised to alleviate that financial burden.  Your Committee on Conference further finds that the refundable food/excise tax credit should be updated to retain value for low-income individuals and working families.

 

Your Committee on Conference has amended this measure by:

 

     (1)  Inserting credit per exemption dollar amounts;

 

     (2)  Repealing the residency requirement for qualifying for the tax credit; and

 

     (3)  Providing for the repeal of this measure on December 31, 2017.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 555, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 555, S.D. 1, H.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

 

ON THE PART OF THE SENATE

 

____________________________

AARON LING JOHANSON, Chair

 

____________________________

JILL N. TOKUDA, Chair