Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1996 entitled:

begs leave to report as follows:

The purpose of this measure is to lower the adjusted gross income threshold for individuals required to make annual payments for underpaying their estimated taxes, and to reduce the percentages used to determine the required annual payment.

Your Committee has amended this measure to delay the effective date for purposes of further discussion.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1996, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1996, S.D. 1, and be placed on the calendar for Third Reading.