CONFERENCE COMMITTEE REP. NO. 158

Honolulu, Hawaii

                 , 2009

RE:    H.B. No. 1495

       H.D. 1

       S.D. 1

       C.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir and Madam:

     Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1495, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO STATE INCOME TAX,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

     The purpose of this bill is to generate additional general funds to ensure the delivery of critical services statewide by repealing the deduction of wagering losses for the purposes of the Hawaii state income tax.

     Upon further consideration, your Committee on Conference has amended this bill by:

     (1)  Making the provisions of this bill applicable to taxable years beginning after December 31, 2008, instead of December 31, 2009;

     (2)  Changing the effective date to upon approval; and

     (3)  Making technical, nonsubstantive amendments for purposes of consistency and style.

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1495, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1495, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ DONNA MERCADO KIM, Chair

____________________________ MARCUS R. OSHIRO, Chair