STAND. COM. REP. NO.  1016

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 207

      H.D. 2

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 207, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this measure is to expand the income tax credit for low-income household renters.

The Office of Hawaiian Affairs, League of Women Voters of Hawaii, Catholic Charities Hawaii, IMUAlliance, and Hawaii State Teachers Association testified in support of this measure.  The Department of Taxation, Tax Foundation of Hawaii, and Hawaii Habitat for Humanity Association and its seven Habitat affiliates provided comments.

     Your Committee has amended this measure by:

     (1)  Changing the tax credit per exemption amounts to unspecified amounts;

     (2)  Changing its effective date to July 1, 2030, to facilitate further discussion; and

     (3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 207, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 207, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair