HOUSE OF REPRESENTATIVES	H.B. NO.	430
TWENTY-SEVENTH LEGISLATURE, 2013
STATE OF HAWAII

A BILL FOR AN ACT

Relating to taxation.

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

     SECTION 1.  Act 97, Session Laws of Hawaii 2011, is amended by amending section 3 to read as follows:

"SECTION 3.  Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§235-     Itemized deductions; limitations. (a) Notwithstanding any other law to the contrary, itemized tax deductions claimed pursuant to this chapter shall not exceed the lesser of:

     (1)  The limitation on itemized deductions under section 68 of the Internal Revenue Code; or

     (2)  Any of the following that may be applicable:

          (A)  $25,000 for a taxpayer filing a single return or a married person filing separately with a federal adjusted gross income of $100,000 or more;

          (B)  $37,500 for a taxpayer filing as a head of household with a federal adjusted gross income of $150,000 or more; and

          (C)  $50,000 for a taxpayer filing a joint return or as a surviving spouse with a federal adjusted gross income of $200,000 or more.

(b)  For the purposes of this section, the term

"itemized tax deductions" does not include charitable

contribution deductions under Section 170 of the Internal

Revenue Code.""

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act, upon its approval, shall apply to taxable years beginning after December 31, 2012.

INTRODUCED BY:

_____________________________

Report Title:

Itemized Deductions; Charitable Contributions

Description:

Excepts charitable deductions taken under Section 170 of the Internal Revenue Code from the temporary limit on the amount of itemized deductions claimable by certain taxpayers.

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