STAND. COM. REP. NO. 1393

Honolulu, Hawaii

, 2019

RE: S.B. No. 1361

S.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1361, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ESTATE TAXES,"

begs leave to report as follows:

The purpose of this measure is to increase estate taxes for Hawaii net taxable estates that are valued at over $10,000,000.

Pono Hawai‘i Initiative, Americans for Democratic Action Hawai‘i, Hawaii Appleseed Center for Law and Economic Justice, and League of Women Voters of Hawaii supported this measure. An individual opposed this measure. The Department of Taxation and Tax Foundation of Hawaii provided comments.

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 S.B. No. 1361, S.D. 1, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

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

____________________________

SYLVIA LUKE, Chair