HOUSE OF REPRESENTATIVES
THE THIRTY-SECOND LEGISLATURE
REGULAR SESSION OF 2023
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Rep. Daniel Holt, Chair |
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Rep. Rachele F. Lamosao, Vice Chair |
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Rep. Natalia Hussey-Burdick |
Rep. Nadine K. Nakamura |
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Rep. Sam Satoru Kong |
Rep. Sean Quinlan |
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Rep. Trish La Chica |
Rep. Elijah Pierick |
NOTICE OF HEARING
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DATE: |
Wednesday, March 22, 2023 |
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TIME: |
9:30 am |
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PLACE: |
VIA VIDEOCONFERENCE Conference Room 423 State Capitol 415 South Beretania Street |
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A G E N D A
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RELATING TO TAXATION. Eliminates the home mortgage interest deduction for second homes under Hawaii income tax law. Effective 6/30/3000. (HD1)
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HSG, ECD, FIN |
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RELATING TO TAXATION. Excludes income received from deferred compensation retirement plans from the state income tax for taxpayers who meet certain income requirements. Effective 1/1/2050. (SD1)
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ECD, FIN |
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RELATING TO TAXES. Requires productions to provide evidence of reasonable efforts to comply with all applicable requirements to qualify for the motion picture, digital media, and film production income tax credit. Requires taxpayers be given notice and an opportunity to cure requirements for the motion picture, digital media, and film production income tax credit. Takes effect 1/6/2050. (SD2)
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ECD, FIN |
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RELATING TO QUALIFIED INTERNSHIPS TAX CREDIT. Establishes a qualified internship income tax credit for employers of qualified interns. Requires qualified internships to fulfill requirements of the Department of Education and University of Hawaii work-based learning programs. Provides an application and certification process for claims of credits to be administered by the Department of Labor and Industrial Relations. Requires reports to the Legislature from the Department of Taxation and Department of Labor and Industrial Relations. Appropriates funds. Effective 1/1/2050. (SD2)
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ECD, FIN |
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RELATING TO THE TAX CREDIT FOR RESEARCH ACTIVITIES. Adds a cap for the amount of tax credits for research activities that an eligible taxpayer and the taxpayer's related entities may receive per taxable year. Consolidates the survey and certification requirements for tax credits for research activities. Amends the annual aggregate cap on tax credits for research activities that the Department of Business, Economic Development, and Tourism may certify. Requires certification of the tax credits for research activities on a first-come, first‑served basis to be based on the date that a complete application is received, subject to certain conditions. Extends from December 31, 2024 to December 31, 2029, the sunset date for tax credits for research activities. Effective 7/1/2050. (SD2)
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ECD, FIN |
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RELATING TO DESIGNATED ECONOMIC DEVELOPMENT DISTRICT. Establishes the Hawaii Economic Development District Planning Organization and board within the Department of Business, Economic Development, and Tourism. Designates the Office of Planning and Sustainable Development to organize the Hawaii Economic Development District Planning Organization. Establishes 2 full-time exempt positions. Makes an appropriation. Effective 7/1/2050. (SD2)
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ECD, FIN |
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RELATING TO PASS-THROUGH ENTITY TAXATION. Authorizes certain pass-through entities to elect to pay Hawaii income tax at the entity level. Effective 7/1/2050. (SD1)
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ECD, FIN |
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DECISION MAKING TO FOLLOW
Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing. Testimony received after this time will be stamped late and left to the discretion of the chair to consider. While every effort will be made to incorporate all testimony received, materials received on the day of the hearing or improperly identified or directed, may not be processed.
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FOR AMENDED NOTICES: Measures that have been deleted are stricken through and measures that have been added are bolded.
For more information, please contact the Committee Clerk at (808) 586-6180
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________________________________________ Rep. Daniel Holt Chair |
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