STAND. COM. REP. NO. 454-14
Honolulu, Hawaii
, 2014
RE: H.B. No. 2429
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2014
State of Hawaii
Sir:
Your Committee on Human Services, to which was referred H.B. No. 2429 entitled:
"A BILL FOR AN ACT RELATING TO TAXATION,"
begs leave to report as follows:
The purpose of this measure is to provide income tax relief to low-income taxpayers by:
(1) Increasing the standard deduction and allowable personal exemption amounts for all taxpayers; and
(2) Increasing the number of exemptions that may be claimed by taxpayers who are sixty-five years of age or older and who meet certain income requirements.
Your Committee has amended this measure by:
(1) Changing its effective date to July 1, 2050, to facilitate discussion;
(2) Inserting a blank date for the taxable years to which this measure applies; and
(3) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
This measure has been brought before the Legislature repeatedly over the years. As it proceeds to your Committee on Finance and through the legislative process, your Committee encourages further discussion and consideration of this measure and the important issues it seeks to address.
As affirmed by the record of votes of the members of your Committee on Human Services that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2429, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2429, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Human Services,
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____________________________ MELE CARROLL, Chair |
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