Bill Text: HI SB2874 | 2010 | Regular Session | Amended

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Bill Title: Income Tax Refunds; Contributions To Special Funds

Spectrum: Strong Partisan Bill (Democrat 15-1)

Status: (Engrossed - Dead) 2010-03-04 - (H) Referred to EDN, FIN, referral sheet 37 [SB2874 Detail]

Download: Hawaii-2010-SB2874-Amended.html

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STAND. COM. REP. NO. 2531

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2874

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 2874 entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

begs leave to report as follows:

 

     The purpose of this measure is to allow taxpayers to contribute a sum up to the amount of their income tax refund to the school-level minor repairs or the libraries special fund.

 

     Your Committee received comments in opposition to this measure from the Department of Taxation.  The Tax Foundation of Hawaii submitted comments.  The written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that this measure will help address minor school repairs and library services by allowing individual income tax filers to write-in an amount greater than the amount currently allowed by law.  Your Committee is concerned, however, that the costs for revising income tax forms to allow this feature could outweigh the benefits of the additional revenues.  Your Committee believes that the costs and benefits of this measure should be examined further to determine whether this method of donating tax refunds is warranted.

 

     Accordingly, your Committee has amended this measure by:

 

     (1)  Clarifying the distinction between the proposed write-in amount and the specific $2 check-off amount currently allowed by law; and

 

     (2)  Changing the effective date to July 1, 2099, to facilitate further discussion on this measure.

 

     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 S.B. No. 2874, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2874, S.D. 1.

 

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

 

		____________________________ DONNA MERCADO KIM, Chair