CONFERENCE COMMITTEE REP

CONFERENCE COMMITTEE REP. NO.19-02

Honolulu, Hawaii

, 2002

RE: H.B. No. 1996

S.D. 1

C.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1996, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ADMINISTRATION OF TAXES,"

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 bill is to provide income tax relief by:

(1) Lowering the adjusted gross income threshold for individuals required to make annual payments for their estimated income taxes from $150,000 to $50,000; and

(2) Reducing the percentages used to determine the required annual payment from 90 percent to 60 percent.

Your Committee on Conference has amended this measure by changing the effective date to January 1, 2003.

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 H.B. No. 1996, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1996, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ COLLEEN HANABUSA, Chair		____________________________ BOB NAKASONE, Chair