THE SENATE	S.B. NO.	162
TWENTY-SIXTH LEGISLATURE, 2011
STATE OF HAWAII

A BILL FOR AN ACT

relating to taxation.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 235-20, Hawaii Revised Statutes, is amended to read as follows:

     "[[]§235-20[]]  Comfort letters; authority to assess fees; established.  The department may assess and collect a fee for [the issuance of] any comfort letter [of] issued by the department.  All fees collected under this section shall be deposited into the tax administration special fund established under section 235-20.5."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval; provided that this Act shall apply to taxable years beginning after December 31, 2010.

INTRODUCED BY:

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Report Title:

Taxation; Comfort Letters

Description:

Clarifies the law with respect to comfort letters issued by the department of taxation.

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