STAND. COM. REP. NO.834
Honolulu, Hawaii
, 2003
RE: S.B. No. 1394
S.D. 2
Honorable Robert Bunda
President of the Senate
Twenty-Second State Legislature
Regular Session of 2003
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 1394, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE,"
begs leave to report as follows:
The purpose of this measure is to amend Hawaii income tax law to conform to changes in the Internal Revenue Code.
Your Committee finds that this measure will provide uniformity and consistency in state and federal income tax law by amending Hawaii income tax law to conform to recent Internal Revenue Code changes.
Upon further consideration, your Committee has amended the measure by making technical amendments that:
(1) Removed reference to "and distributions" in section 235-2.4(e), excepting provisions relating to property on Indian reservations with respect to the accelerated cost recovery system (at page 9, line 15); and
(2) Inserting a new section to include Ramseyer language that indicates which statutory material is repealed and which material is new and renumbered the remaining section consecutively.
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 S.B. No. 1394, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1394, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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