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 17, 2010 |
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TIME: |
1:30 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 THE LIQUOR TAX. Temporarily increases the liquor tax rates during the period of 7/1/10 to 6/30/15.
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RELATING TO THE PUBLIC SERVICE COMPANY TAX. Increases the public service company tax rate applicable to public utilities. Takes effect on 07/01/10, and sunsets on 06/30/15.
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RELATING TO TAXATION. Increases the tax rate for banks and other financial corporations. Repeals requirement that $2,000,000 of tax revenues from banks and other financial corporations be deposited into the compliance resolution fund. Authorizes the commissioner of financial institutions to expedite the imposition of fees on banks and other financial corporations. Takes effect on 07/01/10 and sunsets on 12/31/15. Applies change to entire net income received for calendar year preceding 1/1/11 or fiscal year in which 1/1/11 occurs.
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RELATING TO INSURANCE. Increases the insurance premium tax rates. Repeals the ceiling on insurance premium taxes payable by a captive insurance company. Takes effect on 7/1/10 and sunsets on 06/30/15.
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RELATING TO THE INSURANCE PREMIUM TAX. Temporarily makes the insurance premium tax applicable to mutual benefit societies and health maintenance organizations. Establishes a medical and health promotion tax credit. Authorizes the insurance commissioner to adjust any inadequate rates for the managed care plans of mutual benefit societies and health maintenance organizations.
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RELATING TO THE CONVEYANCE TAX. Temporarily suspends the distribution of a portion of the conveyance tax to the land conservation fund and rental housing trust fund. Reduces distribution to the natural area reserve fund.
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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 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 (for Neighbor Islanders without a computer to submit testimony through e-mail or the Web); 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 |