THE SENATE |
S.C.R. NO. |
30 |
TWENTY-NINTH LEGISLATURE, 2018 |
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STATE OF HAWAII |
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SENATE CONCURRENT
RESOLUTION
REQUESTING THE DEPARTMENT OF TAXATION TO STUDY THE IMPACT OF RECENT CHANGES TO FEDERAL INCOME TAX LAW.
WHEREAS, Public Law 115-97 was enacted on December 22, 2017; and
WHEREAS, Public law 115-97 made extensive changes to the Internal Revenue Code; and
WHEREAS, it is important for policymakers and the public to know what impact, if any, the new federal law may have on the tax revenues of the State; and
WHEREAS, because much of the state income taxation law conforms to the Internal Revenue Code, the Legislature must consider removing this conformity to the extent necessary for the State to avoid an adverse economic impact; now, therefore,
BE IT RESOLVED by the Senate of the Twenty-ninth Legislature of the State of Hawaii, Regular Session of 2018, the House of Representatives concurring, that the Department of Taxation is urged to conduct a study that:
(1) Determines the fiscal impact of Public Law 115-197 on the tax revenues of the State; and
(2) Reviews relevant provisions of the Hawaii Revised Statutes that conform state income taxation law to certain provisions of the Internal Revenue Code and determines to what extent these provisions of the Hawaii Revised Statutes should be repealed or amended; and
BE IT FURTHER RESOLVED that the Department of Taxation is requested to report its findings and recommendations, including any proposed legislation, to the Legislature no later than March 23, 2018; and
BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Director of Taxation.
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OFFERED BY: |
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Taxation; Federal; State; Income; Report