STAND. COM. REP. NO.  656

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 793

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 793 entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

begs leave to report as follows:

 

     The purpose of this bill is to:

 

     (1)  Delay the standard deduction and personal exemption increases provided under Act 60, Session Laws of Hawaii 2009, to taxable years beginning after December 31, 2012; and

 

     (2)  Make the increases permanent. 

 

     The Department of Taxation supported this bill.  A concerned individual opposed this measure.  Tax Foundation of Hawaii submitted 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 H.B. No. 793 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,

 

 

		____________________________ MARCUS R. OSHIRO, Chair