THE TWENTY-SEVENTH LEGISLATURE
REGULAR SESSION OF 2014
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Senator David Y. Ige, Chair |
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Senator Michelle N. Kidani, Vice Chair |
NOTICE OF HEARING
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DATE: |
Thursday, March 20, 2014 |
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TIME: |
9:00 a.m. |
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PLACE: |
Conference Room 211 State Capitol 415 South Beretania Street |
A G E N D A
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RELATING TO RESEARCH ACTIVITIES. Provides that, notwithstanding provisions of the Internal Revenue Code to the contrary, the amount of the state tax credit for research activities shall be calculated based on all qualified research expenses for the taxable year instead of on the increase of expenses over past years. Effective July 1, 2030. (HB1704 HD1)
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WAM |
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RELATING TO TAXATION. Reduces the tax liability for low-income taxpayers by creating a tax credit that will eliminate a taxpayer's income tax liability if their federal adjusted gross income falls below federal poverty guidelines. Reduces a taxpayer's income tax liability by 50% if the taxpayer's federal adjusted gross income falls between 100-125% of federal poverty guidelines. Effective 07/01/2030. (HD1)
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RELATING TO TAXATION. Amends the corporation income tax by taxing real estate investment trusts without regard to the federal deduction for dividends paid. Effective July 1, 2030. (HB1726 HD2)
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RELATING TO TAXATION. Establishes a nonrefundable income tax credit for taxpayers who purchase residential backup generators. Effective 07/01/2030. (HD1)
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RELATING TO TAX RELIEF. Amends state income tax law with respect to net operating loss deductions and the election to expense certain depreciable business assets to conform to federal law. Effective July 1, 2030. (HB2000 HD1)
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RELATING TO TAXATION. Amends the amount and threshold of the refundable food/excise tax credit and income tax credit for low-income household renters. Creates a new low-income tax credit and earned income tax credit. Effective July 1, 2050. (HB2371 HD1)
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RELATING TO TAXATION. Sets forth procedures and provisions under Hawaii tax laws to implement the Streamlined Sales and Use Tax Agreement. Creates a committee to oversee the department of taxation's implementation and administration of, and compliance with the Streamlined Sales and Use Tax Agreement. (HB2135 HD1)
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RELATING TO MARKETPLACE FAIRNESS. Provides an alternative to Hawaii becoming a member state under the Streamlined Sales and Use Tax Agreement. Directs DOTAX to establish rules to meet minimum simplification requirements. Effective July 1, 2030. (HB2507 HD1)
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Decision Making to follow, if time permits.
Click here to submit testimony to the Senate Committee on Ways and Means.
Testimony may be submitted up to 24 hours prior to the start of the hearing.
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.
If you require auxiliary aids or services to participate in the public hearing process (i.e. ASL or foreign language interpreter, or wheelchair accessibility), please contact the committee clerk at least 24 hours prior to the hearing so that arrangements can be made.
FOR FURTHER INFORMATION, PLEASE CALL THE WAM CLERK AT (808)586-6800.
This hearing will be on Twitter: https://twitter.com/HI_Senate_WAM.
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_____________________________________ Senator David Y. Ige Chair |
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