THE SENATE
THE TWENTY-FIFTH LEGISLATURE
REGULAR SESSION OF 2010

COMMITTEE ON WAYS AND MEANS
Senator Donna Mercado Kim, Chair
Senator Shan S. Tsutsui, Vice-Chair

MEASURES DEFERRED TO TUESDAY, MARCH 23, 2010

DATE:

Tuesday, March 23, 2010

TIME:

10:00 AM

PLACE:

Conference Room 211
State Capitol
415 South Beretania Street

DECISION MAKING ON THE FOLLOWING MEASURE(S):

HB1907 HD1
(HSCR518-10)

Testimony

Status

RELATING TO TAXATION.
Temporarily suspends the income tax net operating loss carryback deduction for losses generated in 2009 and 2010.  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.  Removes the refunding feature of the capital goods excise tax credit from 01/01/10 to 12/31/15.  Effective July 1, 2020.  (HB1907 HD1)

WAM

HB2186 HD1
(HSCR522-10)

Testimony

Status

RELATING TO IMPROPER PAYMENTS ELIMINATION AND RECOVERY.
Establishes procedures to eliminate and recover improper payments made by a State agency, State contractor, State grantee, or a governmental or other organization administering a State program or activity, to any non-State person or entity.  Requires the head of each agency to conduct a financial management improvement program and additional reporting requirements for State agencies consistent with rules prescribed by the Director of Finance.  Effective July 1, 2020.  (HB2186 HD1)

WAM

HB2594 HD2
(HSCR523-10)

Testimony

Status

RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE.
Conforming amendments to the Hawaii income tax law based upon amendments to the Internal Revenue Code for calendar year 2009.  (HB2594 HD2)

WAM

HB2866 HD1
(HSCR530-10)

Testimony

Status

RELATING TO TAXATION.
Retains the State's ability to "pick-up" the state death tax credit as it existed in the Internal Revenue Code on December 31, 2009.  (HB2866 HD1)

WAM

No testimony will be accepted.

FOR FURTHER INFORMATION, PLEASE CONTACT THE COMMITTEE CLERK AT 808-587-7200.