STAND. COM. REP. NO. 1506

Honolulu, Hawaii

RE: H.B. No. 1100

H.D. 1

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1100, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CONFORMITY TO THE INTERNAL REVENUE CODE,"

begs leave to report as follows:

The purpose and intent of this measure is to conform the State's income and estate and generation-skipping transfer tax laws to the Internal Revenue Code.

Your Committee received written comments on this measure from the Department of Taxation and Tax Foundation of Hawaii.

Your Committee recognizes that this measure was originally submitted by the Department of Taxation pursuant to sections 235‑2.5(c) and 236E-4(c), Hawaii Revised Statutes. Your Committee notes that the measure amends certain state tax laws as may be necessary to adopt the Internal Revenue Code as it existed on December 31, 2022, to the extent appropriate for Hawaii law.

Your Committee has amended this measure by conforming the formatting of section 235-2.3, Hawaii Revised Statutes, to the official printed version of that text.

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 is in accord with the intent and purpose of H.B. No. 1100, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1100, H.D. 1, S.D. 2.

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

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DONOVAN M. DELA CRUZ, Chair