HOUSE OF REPRESENTATIVES
THE TWENTY-FIFTH LEGISLATURE
REGULAR SESSION OF 2009
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COMMITTEE ON FINANCE |
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Rep. Marcus R. Oshiro, Chair |
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Rep. Marilyn B. Lee, Vice Chair |
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Rep. Henry J. C. Aquino |
Rep. Scott Y. Nishimoto |
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Rep. Karen Leinani Awana |
Rep. Roland D. Sagum, III |
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Rep. Tom Brower |
Rep. James Kunane Tokioka |
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Rep. Isaac W. Choy |
Rep. Jessica Wooley |
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Rep. Denny Coffman |
Rep. Kyle T. Yamashita |
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Rep. Sharon E. Har |
Rep. Kymberly Marcos Pine |
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Rep. Chris Lee |
Rep. Gene Ward |
NOTICE OF HEARING
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DATE: |
Wednesday, February 18, 2009 |
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TIME: |
2:30 P.M. |
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PLACE: |
Conference Room 308 State Capitol 415 South Beretania Street |
A G E N D A # 2
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RELATING TO TAXATION. Establishes the Hawaii tax review initiative to review and report on whether Hawaii's tax policies are relevant and effective in achieving Hawaii's long-term economic and social goals and objectives.
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RELATING TO TAXATION. Requires a tax refund to be deposited in the taxpayer's accounts; prohibits deposit into a paid preparer's accounts; requires a paid preparer to sign a return; establishes penalties.
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RELATING TO GENERAL EXCISE TAX. Advances the date of filing of a general excise monthly tax return from the last day of the calendar month following the month in which the taxes accrue to the 20th day of that month to generate a one-time windfall in revenue due to earlier collection of taxes within the fiscal year.
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RELATING TO EMERGENCY AND BUDGET RESERVE FUND. Requires a deposit into the emergency and budget reserve fund at the close of any fiscal year whenever there is a carryover cash surplus in the general fund. The deposit is equal to 15% of the closing general fund balance.
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RELATING TO FUNDS. Subjects all special funds, except the Hawaii hurricane relief fund, convention center enterprise special fund, and the tourism special fund, to assessments for central service and departmental administrative expenses. Repealed on 6/30/2015.
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RELATING TO MANAGEMENT OF STATE FUNDS. Increases for 6 years from 7/1/09 to 6/30/15, annual rate of central service expenses assessments fees on special funds to 6%. Removes all exemptions from central service expenses assessments for all special funds beginning on 6/1/09.
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RELATING TO INTEREST. Provides for the temporary transfer of interest from certain special funds, revolving funds, and special accounts to the general fund.
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RELATING TO FEES. Provides flexibility for administrative agencies to increase fees.
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RELATING TO STATE MONEYS. Enhances the State's authority to invest in state bonds.
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DECISION MAKING TO FOLLOW
Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing with a transmittal cover indicating:
· Testifier's name with position/title and organization;
· The Committee the comments are directed to;
· The date and time of the hearing;
· Measure number; and
· The number of copies the Committee is requesting.
While every effort will be made to copy, organize, and collate all testimony received, materials received on the day of the hearing or improperly identified or directed to the incorrect office, may be distributed to the Committee after the hearing.
Submit testimony in ONE of the following ways:
PAPER: 2 copies (including an original) to Room 306 in the State Capitol;
FAX: For comments less than 5 pages in length, transmit to 586-6001 (Oahu) or 1-800-535-3859 (Neighbor Islands); or
WEB: For comments less than 4MB in size, transmit through the Web page at http://www.capitol.hawaii.gov/emailtestimony
Testimony submitted will be placed on the Legislative Web site after the hearing adjourns. This public posting of testimony on the Web site should be considered when including personal information in your testimony.
If you require special assistance or auxiliary aids and/or services to participate in the House public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the Committee Clerk at 586-6200 or email your request for an interpreter to HouseInterpreter@Capitol.hawaii.gov at least 24 hours prior to the hearing for arrangements. Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.
Selected meetings are broadcast live. Check the current legislative broadcast schedule on the "Capitol TV" Web site at www.capitoltv.org OR call 550-8074.
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________________________________________ Rep. Marcus R. Oshiro Chair |