STAND. COM. REP. NO. 1685

Honolulu, Hawaii

                , 2011

RE:   H.R. No. 218

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.R. No. 218 entitled:

"HOUSE RESOLUTION REQUESTING THAT THE TAX REVIEW COMMISSION CONDUCT A STUDY ON THE PROJECTED NET LOSS TO HAWAII RESIDENTS IN THEIR FEDERAL TAX LIABILITY THAT IS ATTRIBUTABLE TO THE MANNER IN WHICH THE STATE AND COUNTY GOVERNMENTS ARE CURRENTLY FUNDED,"

begs leave to report as follows:

     The purpose of this resolution is to request the Tax Review Commission to conduct a study on the projected net loss to Hawaii residents in their federal tax liability that is attributable to the manner in which the state and county governments are currently funded.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of H.R. No. 218 and recommends its adoption.

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

____________________________

MARCUS R. OSHIRO, Chair