Report Title:

Retirement Income Study

Description:

Requires the Department of Taxation to conduct a study on the inequities of retirement income taxation.  Appropriates funds.

HOUSE OF REPRESENTATIVES	H.B. NO.	1894
TWENTY-FOURTH LEGISLATURE, 2007
STATE OF HAWAII

A BILL FOR AN ACT

relating to taxation.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  (a)  The department of taxation shall conduct a study on the taxation of retirement income and shall provide technical and administrative support for the study.  The study shall focus on inequities in the taxation of retirement income.

     (b)  The study shall be led by a three-member working group, including:

     (1)  The director of taxation;

     (2)  A member appointed by the speaker of the house of representatives; and

     (3)  A member appointed by the president of the senate.

     (c)  The working group shall submit a report to the legislature on its findings and recommendations, including suggested legislation, no later than twenty days prior to the convening of the regular session of 2009.

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $       or so much thereof as may be necessary for fiscal year 2007-2008 for a study on inequities in the taxation of retirement income.

     The sum appropriated shall be expended by the department of taxation for the purposes of this Act.

     SECTION 3.  This Act shall take effect on July 1, 2007.

INTRODUCED BY:

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