Report Title:

Taxation; Comfort Letters

Description:

Clarifies the law with respect to comfort letters issued by the Department of Taxation.

THE SENATE	S.B. NO.	290
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAXATION.

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

     SECTION 1.  Section 235-20, Hawaii Revised Statutes, is amended to read as follows:

     "[[]§235-20[]]  Comfort letters; authority to assess fees; established.  The department may assess and collect a fee for [the issuance of] any comfort letter [of] issued by the department.  All fees collected under this section shall be deposited into the tax administration special fund established under section 235-20.5."

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  Statutory material to be repealed is bracketed and stricken.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

     SECTION 3.  This Act shall take effect upon its approval and shall apply to taxable years beginning after December 31, 2008.

INTRODUCED BY:

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