STAND. COM. REP. 2811
Honolulu, Hawaii
, 2004
RE: S.B. No. 2364
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 2364 entitled:
"A BILL FOR AN ACT RELATING TO TAXATION,"
begs leave to report as follows:
The purpose of this measure is to increase the income tax deduction provided to national guard members and other reservists.
Your Committee finds that with the global uncertainties that exist today, it is imperative that the State maintain its military strength by supporting the Hawaii national guard and other reserve components. A strong military presence locally not only enhances our nation's war on terrorism, but also supports the State during times of natural disasters and other emergencies.
By increasing the income tax deduction to national guard members and other reservists, this bill provides an excellent incentive for the recruitment and retention of qualified and motivated national guard members and reservists.
Your Committee has amended the bill by providing a blank amount to be excluded from gross income, adjusted gross income, and taxable income for the purpose of continuing discussion and pending final disposition of the state budget.
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. 2364, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2364, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
____________________________ BRIAN T. TANIGUCHI, Chair |
||