STAND. COM. REP. NO. 14-04
Honolulu, Hawaii
, 2004
RE: H.B. No. 1734
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Economic Development and Business Concerns, to which was referred H.B. No. 1734 entitled:
"A BILL FOR AN ACT RELATING TO SMALL BUSINESS TAX CREDITS,"
begs leave to report as follows:
The purpose of this bill is to increase the number of employers offering health care coverage to the families of their employees by:
(1) Providing a nonrefundable small business family health care tax credit for businesses of 50 employees or fewer, if they contribute at least 50 percent of the cost of the premium for each employee's family health plan coverage;
(2) Establishing a $200 per employee maximum for the amount of tax credit allowed; and
(3) Making this tax credit available for taxable years beginning after December 31, 2003.
HMSA and the National Federation of Independent Business Hawaii submitted testimony in support of this measure. The Department of Taxation submitted testimony in opposition to this measure.
As affirmed by the record of votes of the members of your Committee on Economic Development and Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1734 and recommends that it pass Second Reading and be referred to the Committee on Health.
Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,
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____________________________ BRIAN SCHATZ, Chair |
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