STAND. COM. REP. NO. 928-06
Honolulu, Hawaii
, 2006
RE: H.B. No. 3129
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2006
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 3129 entitled:
"A BILL FOR AN ACT RELATING TO LONG-TERM CARE,"
begs leave to report as follows:
The purpose of this bill is to encourage taxpayers to purchase long-term care insurance by:
(1) Providing individual taxpayers and employers with a tax credit for long-term care insurance premiums; and
(2) Requiring the Department of Taxation (DOTAX), in cooperation with the Department of Commerce and Consumer Affairs (DCCA), to report annually to the Legislature on the number of taxpayers claiming the tax credits and the cost of the tax credits to the State.
DOTAX, Healthcare Association of Hawaii, Chamber of Commerce of Hawaii, American Council of Life Insurers, Association of Insurance and Financial Advisors, and State Farm Mutual Automobile Insurance Company testified in support of this bill. ILWU, Local 142 supported this measure with reservations. The Kokua Council and the Policy Advisory Board for Elder Affairs opposed this measure. DCCA offered comments.
Your Committee has amended this bill by:
(1) Changing its effective date to July 1, 2020, to promote further discussion; and
(2) Making technical, nonsubstantive amendments for clarity 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. 3129, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3129, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT TAKAMINE, Chair |
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