HOUSE OF REPRESENTATIVES
THE TWENTY-FIFTH LEGISLATURE
REGULAR SESSION OF 2010
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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. Lynn Finnegan |
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Rep. Gilbert S.C. Keith-Agaran |
Rep. Gene Ward |
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Rep. Chris Lee |
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NOTICE OF HEARING
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DATE: |
Wednesday, February 10, 2010 |
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TIME: |
3:00 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. Temporarily suspends the income tax net operating loss carryback deduction for losses generated in 2009 and 2010.
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RELATING TO TAXATION. Requires the department of taxation to provide refunds to taxpayers within 90 days or the due date of the tax, whichever occurred first.
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RELATING TO ESTATE AND TRANSFER TAX. Retains the State's ability to "pick-up" the state death tax credit as it existed in the Internal Revenue Code before the enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001.
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RELATING TO TAXATION. Repeals the income tax provision that requires the reporting of gambling winnings but not losses.
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RELATING TO TAX CREDITS. Provides for the statutory ordering of income tax credits, which requires the claiming of refundable credits first, followed by nonrefundable credits.
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RELATING TO TAXATION. Places a cap on itemized deductions claimed on state income tax returns. Applies to taxable years beginning after 12/31/09 and sunsets on 12/31/15.
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RELATING TO TAX DEDUCTIONS. Adopts the federal tax deduction limitation with modifications.
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RELATING TO TAXATION. Removes the refunding feature of the capital goods excise tax credit from 01/01/10 to 12/31/15.
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RELATING TO TAXATION. Imposes the income tax on a lessor of real property for capital improvements made by a lessee upon the termination of a lease.
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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 Islanders with no e-mail access); or
WEB: For comments less than 4MB in size, transmit from 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 |