CONFERENCE
COMMITTEE REP. NO. 17
Honolulu, Hawaii
, 2025
RE: S.B. No. 1464
H.D. 1
C.D. 1
Honorable Ronald D. Kouchi
President of the Senate
Thirty-Third State Legislature
Regular Session of 2025
State of Hawaii
Honorable Nadine K. Nakamura
Speaker, House of Representatives
Thirty-Third State Legislature
Regular Session of 2025
State of Hawaii
Sir and Madam:
Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 1464, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CONFORMITY TO THE INTERNAL REVENUE CODE,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this measure is to conform the state income tax law and estate and generation-skipping transfer tax law to the Internal Revenue Code of 1986, as amended as of December 31, 2024.
Your Committee on Conference finds that this annual conformity measure ensures that the state income tax and state estate and generation-skipping transfer tax laws conform to the federal Internal Revenue Code as it existed on December 31, 2024. The purpose of conformity is to update these state tax laws with the changes made to the federal Internal Revenue Code during the past year and to adopt those changes that are appropriate for Hawaii law.
Your Committee on Conference has amended this measure by changing the effective date to upon its approval.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1464, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1464, H.D. 1, C.D. 1.
Respectfully submitted on behalf of the managers:
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ON THE PART OF THE HOUSE |
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ON THE PART OF THE SENATE |
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____________________________ KYLE T. YAMASHITA Chair |
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____________________________ SHARON MORIWAKI Chair |
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