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 DECISION MAKING
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DATE: |
Friday, February 12, 2010 |
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TIME: |
4:10 P.M. |
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PLACE: |
Conference Room 308 State Capitol 415 South Beretania Street |
A G E N D A # 3
The following measure(s) were previously heard on Wednesday, February 10, Agenda # 3
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RELATING TO THE TRANSIENT ACCOMMODATIONS TAX. Temporarily increases from 7/1/2010 to 6/30/2015 the transient accommodations tax rate on time share units.
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RELATING TO TAXATION. Provides that the transient accommodation tax shall be assessed and collected at a minimum rate of $8 per day. Effective 7/1/10.
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RELATING TO TAXATION. Imposes the general excise tax and the transient accommodations tax on gross rental proceeds received from a rewards club central fund to the operator of a transient accommodation.
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RELATING TO GENERAL EXCISE TAX. Precludes a taxpayer from utilizing a general excise tax benefit, including exemptions, deductions, lower rates, or income splitting, unless the taxpayer follows all administrative requirements. Creates trust fund liability for revenues collected by a business as a tax recovery.
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RELATING TO GENERAL EXCISE TAX ON INSURANCE PRODUCERS. Adjusts the rate of the general excise tax assessed on insurance commissions by making it equivalent to the tax rate paid by other commission agent counterparts.
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RELATING TO STATE FUNDS. Imposes a general excise tax surcharge upon gross income or gross proceeds comprised of state non-general funds. Imposes a public service company tax surcharge upon gross income comprised of state non-general funds. Imposes an insurance premium tax surcharge upon gross premiums, gross underwriting profits, and risk premiums comprised of state non-general funds. Takes effect on 7/1/2010 and sunsets on 6/30/2015.
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RELATING TO TAXATION. Imposes the general excise tax at a 4% rate on the gross income from the sale of securities. Repeals the general excise tax exemption for stock or future exchanges. Takes effect on 10/01/10 and sunsets on 06/30/15, except that the repeal of the exchange exemption shall be permanent.
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RELATING TO TAXATION. Imposes the general excise tax at the rate of 4% on the death benefits and other gross income derived by a provider of a life settlement contract. Takes effect on 07/01/10 and sunsets on 06/30/15.
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NO TESTIMONY WILL BE ACCEPTED.
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.
For further information, please call the Committee Clerk at 586-6200.
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 |