STAND. COM. REP. NO.  753

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 1735

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1735 entitled:

"A BILL FOR AN ACT RELATING TO GENERAL EXCISE TAX,"

begs leave to report as follows:

     The purpose of this bill is to generate a one-time windfall in revenue by advancing the filing date 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 20^th day of that month.

     The Department of Taxation supported this bill.  A concerned individual opposed this measure.  The Tax Foundation of Hawaii provided comments.

     Your Committee has amended this bill by changing the effective date to July 1, 2009.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1735, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1735, H.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair