THE SENATE
THE TWENTY-SIXTH LEGISLATURE
REGULAR SESSION OF 2012

COMMITTEE ON WAYS AND MEANS
Senator David Y. Ige, Chair
Senator Michelle Kidani, Vice-Chair

MEASURES DEFERRED TO THURSDAY, MARCH 22, 2012

DATE:	Thursday, March 22, 2012
TIME:	11:00 AM
PLACE:	Conference Room 211 State Capitol 415 South Beretania Street

DECISION MAKING ON THE FOLLOWING MEASURE(S):

HB1695 (HSCR857-12) Status and Testimony	RELATING TO TAXATION. Prohibits penalties for substantial understatements or misstatements and for erroneous claims for refund or credit from being added to tax underpayments on which certain other penalties are already imposed.	WAM
HB1705 HD1 (HSCR723-12) Status and Testimony	RELATING TO TAXATION. Exempts from the state income and general excise taxes, federally tax-exempt section 501(c)(12) privately-owned nonprofit public water systems that supply potable water to communities that lack any access to public utility water services.  Effective July 1, 2030.  (HB1705 HD1)	WAM
HB1838 (HSCR715-12) Status and Testimony	RELATING TO STATE BONDS. Authorizes issuance of general obligation bonds.  Makes findings required by article VII, section 13 of the State Constitution to declare that the issuance of authorized bonds will not cause the debt limit to be exceeded.	WAM
HB1980 HD1 (HSCR719-12) Status and Testimony	RELATING TO TAXATION. Repeals the changes that were made to taxation filing dates in Act 196, Session Laws of Hawaii 2009, and Act 22, Session Laws of Hawaii 2010.  Effective January 1, 2014.  Applicable to taxable years beginning after December 31, 2013.  (HB1980 HD1)	WAM
HB2328 HD1 (HSCR724-12) Status and Testimony	RELATING TO TAXATION. Establishes the Estate and Generation-Skipping Transfer Tax as a new chapter within the Hawaii Revised Statutes.  (HB2328 HD1)	WAM
HB2411 HD1 (HSCR840-12) Status and Testimony	RELATING TO CAPITAL IMPROVEMENTS. Expressly authorizes the use of capital improvement project appropriations and revenue bond proceeds for contracting costs.  Effective July 1, 2012.  (HB2411 HD1)	WAM
HB2605 HD1 (HSCR720-12) Status and Testimony	RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE. Conforms Hawaii income tax law with amendments to the Internal Revenue Code made in calendar year 2011.  (HB2605 HD1)	WAM

No testimony will be accepted.

FOR AMENDED NOTICES:  Measures that have been deleted are stricken through and measures that have been added are underscored.  If a measure is both underscored and stricken through, that measure has been deleted from the agenda.

FOR FURTHER INFORMATION, PLEASE CONTACT THE COMMITTEE CLERK AT 808-586-6230.