Report Title:

County Surcharge on GET; Reduce Reimbursement to State

Description:

Reduces annual reimbursement by city and county of Honolulu to the State from gross proceeds of the county's surcharge on the general excise tax from 10% to 5% or $5,000,000, whichever is less.

THE SENATE	S.B. NO.	930
TWENTY-FOURTH LEGISLATURE, 2007
STATE OF HAWAII

A BILL FOR AN ACT

relating to county surcharge on state general excise tax.

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

     SECTION 1.  Section 248-2.6, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  If adopted by county ordinance, all county surcharges on state tax collected by the director of taxation shall be paid into the state treasury quarterly, within ten working days after collection, and shall be placed by the director of finance in special accounts.  Out of the annual revenues generated by county surcharges on state tax paid into each respective state treasury special account, the director of finance shall deduct [ten] either five per cent of the gross proceeds of a respective county's surcharge on state tax or $5,000,000, whichever amount is less, to reimburse the State for the costs of assessment, collection, and disposition of the county surcharge on state tax incurred by the State.  Amounts retained shall be general fund realizations of the State."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

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

INTRODUCED BY:

_____________________________