STAND. COM. REP. NO. 3213

Honolulu, Hawaii

RE: S.R. No. 14

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.R. No. 14 entitled:

"SENATE RESOLUTION REQUESTING THE DEPARTMENT OF TAXATION TO STUDY THE IMPACT OF RECENT CHANGES TO FEDERAL INCOME TAX LAW,"

begs leave to report as follows:

The purpose and intent of this measure is to urge the Department of Taxation to study the impact to the State of the recent changes to federal income tax law.

Your Committee received testimony in support of this measure from IMUAlliance and OCC Legislative Priorities Committee, Democratic Party of Hawaii.

Your Committee finds that, in light of the significant recent amendments to federal tax law, the Department of Taxation should be urged to determine the impact to the State from these changes, including determining any fiscal impact on state tax revenue and identifying provisions of state law that may need to be conformed to new federal provisions.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee concurs with the intent and purpose of S.R. No. 14 and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair