Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Human Services and Housing, to which was referred H.B. No. 747 entitled:

begs leave to report as follows:

The purpose of this bill is to increase the low-income renter's tax credit to $100.

The Affordable Housing and Homeless Alliance testified in support of this bill. The Tax Foundation of Hawaii submitted comments on this bill. In opposition to this bill, the Department of Taxation stated that this bill will only reduce the amount of tax collections for the State's general fund, and that this bill would set a precedent for others to seek similar increases in other tax credits.

Your Committee finds that this bill will partially offset the higher tax burden on renters resulting from the lack of tax relief similar to the home exemption for homeowners.

As affirmed by the record of votes of the members of your Committee on Human Services and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 747 and recommends that it pass Second Reading and be referred to the Committee on Finance.