Bill Text: HI HB810 | 2012 | Regular Session | Amended

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Bill Title: Tax Credit; Employment Increase

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [HB810 Detail]

Download: Hawaii-2012-HB810-Amended.html

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STAND. COM. REP. NO.  51

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 810

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Economic Revitalization & Business, to which was referred H.B. No. 810 entitled:

 

"A BILL FOR AN ACT RELATING TO EMPLOYMENT,"

 

begs leave to report as follows:

 

     The purpose of this bill is to provide incentives for job creation and better salaries for employees by temporarily providing an employment increase tax credit (credit) for a taxpayer that increases, by at least ten percent, the number of employees employed in the taxpayer's business and the total wages paid to the employees, over the previous calendar year. 

 

     Retail Merchants of Hawaii supported this bill.  The Department of Taxation and Tax Foundation of Hawaii submitted comments.

 

     Your Committee has amended this measure by:

 

     (1)  Specifying that owners, officers, directors, shareholders, partners, members, and member managers of the taxpayer shall not be considered as "employees" when determining eligibility for the credit;

 

     (2)  Establishing annual reporting requirements related to the credit; and

 

     (3)  Making technical, nonsubstantive amendments for style, clarity, and consistency. 

 

     As affirmed by the record of votes of the members of your Committee on Economic Revitalization & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 810, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 810, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Economic Revitalization & Business,

 

 

		____________________________ ANGUS L.K. MCKELVEY, Chair