HOUSE OF REPRESENTATIVES	H.B. NO.	2218
TWENTY-EIGHTH LEGISLATURE, 2016		H.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO AMENDING OR REPEALING HAWAII INCOME TAX LAWS FOR THE PURPOSE OF DELETING OBSOLETE OR UNNECESSARY PROVISIONS.

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

     SECTION 1.  Section 235-2.3, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  For all taxable years beginning after December 31, 2014, as used in this chapter, except as provided in section 235-2.35, "Internal Revenue Code" means subtitle A, chapter 1, of the federal Internal Revenue Code of 1986, as amended as of December 31, 2014, as it applies to the determination of gross income, adjusted gross income, ordinary income and loss, and taxable income, except those provisions of the Internal Revenue Code and federal public laws which, pursuant to this chapter, do not apply or are otherwise limited in application and except for the provisions of Public Law 109-001, which apply to section 170 of the Internal Revenue Code.  The provisions of Public Law 109-001 to accelerate the deduction for charitable cash contributions for the relief of victims of the 2004 Indian Ocean tsunami are applicable for the calendar year that ended December 31, 2004, and the calendar year ending December 31, 2005.

     [Sections 235-2, 235-2.1, and 235-2.2] Prior law shall continue to be used to determine:

     (1)  The basis of property, if a taxpayer first determined the basis of property in a taxable year to which [these sections apply, and if the determination was made before January 1, 1978;] prior law applies; and

     (2)  Gross income, adjusted gross income, ordinary income and loss, and taxable income for a taxable year to which [these sections apply where the taxable year begins before January 1, 1978.] prior law applies."

     SECTION 2.  Section 235-2, Hawaii Revised Statutes, is repealed.

     SECTION 3.  Section 235-2.1, Hawaii Revised Statutes, is repealed.

     SECTION 4.  Section 235-2.2, Hawaii Revised Statutes, is repealed.

     SECTION 5.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 6.  This Act shall take effect on July 1, 2030.

Report Title:

Income Tax; Internal Revenue Code

Description:

Amends or repeals Hawaii Income Tax laws to delete obsolete or unnecessary provisions.  (HB2218 HD1)

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