Report Title:
Taxation; Refund Splitting; Electronic Deposits; Bank Accounts
Description:
Allows income tax refunds to be electronically deposited in a maximum of three checking or savings accounts, by request of the individual taxpayer.
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THE SENATE |
S.B. NO. |
2838 |
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TWENTY-FOURTH LEGISLATURE, 2008 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to allow an individual taxpayer to request that the department of taxation electronically deposit the taxpayer's income tax refund into a maximum of three checking or savings accounts.
SECTION 2. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235‑ Refund splitting. The department of taxation shall revise returns required to be filed pursuant to this chapter to allow an individual taxpayer to designate up to a maximum of three checking or savings accounts at financial institutions for direct deposit of the taxpayer's income tax refund."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2007.
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INTRODUCED BY: |
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