STAND. COM. REP. NO. 571-04
Honolulu, Hawaii
, 2004
RE: H.B. No. 1904
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 1904 entitled:
"A BILL FOR AN ACT RELATING TO TAXATION,"
begs leave to report as follows:
The purpose of this bill is to support our citizen-soldiers by raising the income tax deduction received by members of the reserves of the United States Armed Forces and the National Guard from the first $1,750 of compensation from performance of duty to $5,000 of such compensation.
The Chamber of Commerce of Hawaii testified in support of this bill. The Department of Taxation testified in opposition to this measure. The State of Hawaii Department of Defense and Tax Foundation of Hawaii submitted comments.
Your Committee has amended this bill by:
(1) Changing the amount of the tax deduction from $5,000 to a blank amount to facilitate further discussion; and
(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1904, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1904, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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