STAND. COM. REP. NO.  277

Honolulu, Hawaii

                , 2013

RE:   H.B. No. 965

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 965 entitled:

"A BILL FOR AN ACT RELATING TO CASH ECONOMY ENFORCEMENT,"

begs leave to report as follows:

The purpose of this measure is to amend the recording requirements for cash transactions to assist the Department of Taxation with the collection and enforcement of taxes.

The Department of Taxation testified in support of this measure.  The Tax Foundation of Hawaii offered comments.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 965 and recommends that it pass Second Reading and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

CLIFT TSUJI, Chair