Bill Text: HI SB3007 | 2020 | Regular Session | Amended

Hawaii Senate Bill 3007 (Prior Session Legislation)

Bill Title: Relating To Tax Credits.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Engrossed - Dead) 2020-06-25 - Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Cabanilla Arakawa, Matayoshi excused (2). [SB3007 Detail]

Download: Hawaii-2020-SB3007-Amended.html

THE SENATE	S.B. NO.	3007
THIRTIETH LEGISLATURE, 2020		S.D. 2
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAX CREDITS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 201, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§201- Specific economic activity tax credits; public disclosure. Upon certification by the department that a taxpayer has received any tax credit under sections 235-17 and 235‑110.91, or chapter 209E, the department shall file a public disclosure identifying the name of the taxpayer who received the tax credit and the total amount of tax credit received by the taxpayer."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2050, and shall apply to taxable years beginning after December 31, 2020.

Report Title:

Tax Credits; Specified Economic Activities; Public Disclosure

Description:

Requires the Department of Business, Economic Development, and Tourism to make a public disclosure identifying the names of the taxpayers who are receiving tax credits and the total amount of tax credit received for specific economic activities. Effective 7/1/2050. (SD2)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.