STAND. COM. REP. NO.  705

 

Honolulu, Hawaii

                , 2021

 

RE:   H.B. No. 445

      H.D. 1

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 445, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO INCREASING THE ESTATE TAX,"

 

begs leave to report as follows:

 

     The purpose of this measure is to amend the exclusion amount of Hawaii's estate tax to an unspecified amount.

 

     Your Committee received testimony in support of this measure from the Hawaii State Teachers Association; Kauai Women's Caucus; Hawaii Children's Action Network Speaks!; Hawaii Budget & Policy Center; Young Progressives Demanding Action; Democratic Party of Hawaii Education Caucus; Imua Alliance; Our Revolution Hawaii; Hawaii Health & Harm Reduction Center; and seven individuals.  Your Committee received testimony in opposition to this measure from seven individuals.  Your Committee received comments on this measure from the Department of Taxation, PHOCUSED, Tax Foundation of Hawaii, Hawaii Association of REALTORS, and Grassroot Institute of Hawaii.

 

     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. 445, 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