STAND. COM. REP. NO. 1174

Honolulu, Hawaii

, 2023

RE: H.B. No. 233

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 233, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO A CHILD TAX CREDIT,"

begs leave to report as follows:

The purpose of this measure is to establish a refundable child tax credit for Hawaii's working families, to be payable on a monthly basis.

Your Committee received testimony in support of this measure from Catholic Charities Hawai‘i, Holomua Collaborative, Imua Alliance, Democratic Party of Hawai‘i Education Caucus, aio Family of Companies, Early Childhood Action Strategy, Hawai‘i Children's Action Network Speaks!, HPM Building Supply, Americans for Democratic Action Hawai‘i, Hawaii Health & Harm Reduction Center, Hawai‘i Workers Center, Hawai‘i Alliance for Progressive Action, Hawai‘i Women Lawyers, Title Guaranty of Hawai‘i, IATSE Local 665, Hawai‘i Gas, Aloha United Way, Hawai‘i Community Foundation, Hawai‘i Hunger Action Network, Hawai‘i Foodbank, Hawaii Appleseed Center for Law & Economic Justice, and numerous individuals. Your Committee received comments on this measure from the Department of Taxation, Department of Budget and Finance, and Tax Foundation of Hawaii.

Your Committee has amended this measure by:

(1) Changing the tax credit to an unspecified amount; and

(2) Making a technical, nonsubstantive amendment for the purposes of clarity, consistency, and style.

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. 233, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 233, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

KYLE T. YAMASHITA, Chair