HOUSE OF REPRESENTATIVES

THE THIRTIETH LEGISLATURE

REGULAR SESSION OF 2019

 

COMMITTEE ON FINANCE

Rep. Sylvia Luke, Chair

Rep. Ty J.K. Cullen, Vice Chair

 

Rep. Stacelynn K.M. Eli

Rep. Nadine K. Nakamura

Rep. Cedric Asuega Gates

Rep. Scott Y. Nishimoto

Rep. Troy N. Hashimoto

Rep. Chris Todd

Rep. Daniel Holt

Rep. Tina Wildberger

Rep. Lisa Kitagawa

Rep. Kyle T. Yamashita

Rep. Bertrand Kobayashi

Rep. Bob McDermott

Rep. Scot Z. Matayoshi

 

 

NOTICE OF HEARING

 

DATE:

Friday, March 15, 2019

TIME:

2:00 P.M.

PLACE:

Conference Room 308

State Capitol

415 South Beretania Street

 

A G E N D A # 1

 

SB 711, SD1

(SSCR223)

Status

RELATING TO AGRICULTURAL LAND.

Amends certain general obligation bond funds appropriated in the General Appropriations Act of 2017 to purchase deep well easements on agricultural land on Oahu.

 

FIN

SB 394, SD1

(SSCR749)

Status

RELATING TO TAXATION.

Replaces the current 3-factor formula for apportionment of business income with a single sales factor. Amends the rules for sourcing the sales factor for net income tax to impose market sourcing for sales of other than tangible personal property. Provides specific rules for intangibles and services. Effective 7/1/2050.

 

FIN

SB 396, SD1

(SSCR670)

Status

RELATING TO MARKETPLACE FACILITATORS.

Establishes marketplace facilitators as the sellers of tangible personal property, intangible property, or services. Requires other persons who provide a forum for listing of tangible personal property, intangible property, or services and the taking or processing of orders to report information about purchasers to the Department of Taxation.

 

FIN

SB 494, SD1

(SSCR165)

Status

RELATING TO THE GENERAL FUND BALANCE.

Provides a tax credit to taxpayers and makes deposits to the emergency and budget reserve fund and other post-employment benefits trust fund pursuant to article VII, section 6, of the Hawaii Constitution. Makes appropriations. Effective 7/1/2050.

 

FIN

SB 495, SD2

(SSCR1180)

Status

RELATING TO TAXATION.

Creates a nexus standard for taxing out-of-state businesses on their business income in Hawaii. Effective 7/1/2050.

 

FIN

SB 1130, SD1

(SSCR686)

Status

RELATING TO TAXATION.

Specifies that the Internal Revenue Code section 512(a)(7), with respect to increases in unrelated business taxable income by disallowed fringe, is not operative in Hawaii income tax law. Conforms Hawaii income and estate and generation-skipping transfer tax laws to the Internal Revenue Code of 1986, as amended as of December 31, 2018. Clarifies wording regarding the Hawaii applicable exclusion amount.

 

FIN

SB 1314, SD1

(SSCR900)

Status

RELATING TO TAX CREDITS.

Amends the research activity tax credit so that references to the base amount in section 41 of the Internal Revenue Code shall not apply, and credit for all qualified research expenses may be taken without regard to the amount of expenses for previous years. Extends the research activity tax credit through 2024. Applies to taxable years beginning after 12/31/2019. Effective 7/1/2050.

 

FIN

SB 1360, SD1

(SSCR673)

Status

RELATING TO TAXATION.

Requires partnerships, estates, and trusts to withhold taxes on the income of nonresident partners and beneficiaries.

 

 

FIN

SB 1361, SD1

(SSCR689)

Status

RELATING TO ESTATE TAXES.

Increases estate taxes for Hawaii net taxable estates valued at over $10,000,000.

 

FIN

DECISION MAKING TO FOLLOW

 

Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing. Testimony should indicate:

    Testifier's name with position/title and organization;

    The Committee(s) to which the comments are directed;

    The date and time of the hearing; and

    Measure number.

 

While every effort will be made to incorporate all testimony received, materials received on the day of the hearing or improperly identified or directed, 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;

FAX: For testimony less than 5 pages in length, transmit to 586-6201 (Oahu) or 1-800-535-3859 (for Neighbor Islander without a computer to submit testimony through e-mail or the Web); or

WEB: For testimony less than 20MB in size, transmit from http://www.capitol.hawaii.gov/submittestimony.aspx.

 

Testimony submitted will be placed on the legislative website. This public posting of testimony on the website 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.

 

 

 

 

 

 

________________________________________

Rep. Sylvia Luke

Chair