THE SENATE
THE TWENTY-FOURTH LEGISLATURE
REGULAR SESSION OF 2008
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COMMITTEE ON ECONOMIC DEVELOPMENT AND TAXATION |
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Senator Carol Fukunaga, Chair |
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Senator Will Espero, Vice Chair |
NOTICE OF HEARING
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DATE: |
Tuesday, February 12, 2008 |
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TIME: |
9:25 a.m. |
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PLACE: |
Conference Room 224 State Capitol 415 South Beretania Street |
A G E N D A
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RELATING TO TAXATION. Repeals and reenacts the capital goods excise tax credit in order to reflect the definitions and other references to the Internal Revenue Code of 1954, as amended. (SD1)
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EDT, WAM |
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RELATING TO ECONOMIC DIVERSIFICATION. Appropriates moneys for economic diversification activities.
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EDT, WAM |
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RELATING TO TAXATION. Provides a tax credit to taxpayer caregivers who care for qualified care recipients; requires the executive office on aging to submit a report to the legislature evaluating the program after three years; makes appropriation to the department of taxation to disseminate information on executive office of aging caregiver support information and services. (SD1)
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HSP, EDT, WAM |
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RELATING TO TAXATION. Establishes an income tax credit for taxpayers who make modifications to their homes to accommodate individuals with disabilities or facilitate aging‑in‑place. (SD1)
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HSP, EDT, WAM |
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RELATING TO HOUSING. Appropriates funds for various homeless and housing programs and projects. Repeals sunset date for allocation of conveyance tax to the rental housing trust fund. Provides funding for various public housing and homeless programs. (SD1)
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CPH/HSP, EDT, WAM |
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RELATING TO LOW-INCOME HOUSING TAX CREDITS. Reduces the period over which state low-income housing tax credits are taken from 10 years to 5 years. (SD1)
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HSP, EDT, WAM |
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RELATING TO TAXATION. Provides an additional exemption for those with a dependent aged 18 and under with adjusted gross incomes of $200,000 or less. Modifies and increases the child and dependent care credit. (SD1)
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HSP, EDT, WAM |
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RELATING TO EDUCATION. Establishes a task force to study the adequacy of funding for education in the State and to develop estimates and methods for meeting funding needs. Requires reports to the legislature and appropriates funds for the task force. Establishes a tax credit for volunteer services performed for the public schools or the University of Hawaii. (SD1)
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EDU, EDT, WAM |
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RELATING TO COLLEGE SAVINGS PROGRAMS. Provides an annual maximum deduction of $5,000 per individual or $10,000 for a married couple filing jointly against their taxable income for contributions made to a section 529 college savings program in calendar year 2008 and beyond. Establishes a $75,000 cap on the total tax deduction per college savings account. Requires Hawaii financial institutions to provide college savings account information to interested parties. (SD1)
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EDU, EDT, WAM |
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RELATING TO THE UNIVERSITY OF HAWAII. To increase the sources of revenue available to support the Cancer Research Center of Hawaii.
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EDU, EDT, WAM |
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RELATING TO TAXATION. Provides a tax credit to teachers for professional development and training expenses. (SD1)
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EDU, EDT, WAM |
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Decision Making to follow, if time permits.
Persons wishing to testify should submit testimony in one of the following ways at least 24 hours prior to the hearing. Any testimony received after 6:00 PM the day before the hearing will not be distributed to the Committee or available to the public until after the hearing ends. As a result, the Committee will not be able to consider written testimony received after 6:00 PM in its decisions.
· In person: 1 copy of their testimony to the committee clerk, Room 216, State Capitol.
· By fax: Testimony may be faxed if less than 5 pages in length, to the Senate Sergeant-At-Arms Office at 586-6659 or 1-800-586-6659 (toll free for neighbor islands), at least 24 hours prior to the hearing. When faxing, please indicate to which committee the testimony is being submitted and the date and time of the hearing.
· By Email: Testimony may be emailed if less than 5 pages in length, to the Legislature's Public Access Room at testimony@capitol.hawaii.gov. Please indicate to which committee the testimony is being submitted and the date and time of the hearing. Email sent to individual offices or any other Senate office will not be accepted.
If you require special assistance or auxiliary aids or services to participate in the public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the committee clerk 24 hours prior to the hearing so arrangements can be made.
Please note: Documents made available through the Testimony hyperlink(s) above may not be posted until the start of the hearing.
Public Folder. A folder labeled “Public Folder” containing the measures and testimonies for the hearing will be available for shared use by members of the public.
FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-7135.
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________________________________________ Senator Carol Fukunaga Chair |
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