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2009 Digest of Tax Measures

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2009 Digest of Tax Measures ENACTED BY THE STATE OF HAWAII Digest of Tax Measures TWENTY-FIFTH LEGISLATURE – REGULAR AND FIRST SPECIAL SESSIONS OF 2009 Prepared by the State of Hawaii Department of Taxation Issued: July 31, 2009 NOTE: This Digest is issued solely as a guide and is not intended to be complete Introduction he following is a digest of bills passed by the 2009 Legislature and enacted into law. The Governor vetoed eight substantive tax measures, all but three were overridden by the Legislature. The digest includes only those measures that affect Hawaii’s tax laws and is provided for your information. It is T issued solely as a guide and is not intended to be either authoritative or complete. Copies of the bills passed by the Legislature may be obtained from the Senate and House print shops. Bills and Acts are also accessible via the Internet on the State Capitol website at http://www.capitol.hawaii.gov, or on the Department of Taxation’s website at http://hawaii.gov/tax. KEY TO ABBREVIATIONS S.B. = Senate Bill S.D. = Senate Draft H.B. = House Bill H.D. = House Draft C.D. = Conference Draft SCR = Senate Concurrent Resolution HCR = House Concurrent Resolution SSCR = Senate Standing Committee Report HSCR = House Standing Committee Report CCR = Conference Committee Report Section(s) of the Hawaii Revised SECT AFF = Statutes Affected by the Bill’s Provisions HRS = Hawaii Revised Statutes HAR = Hawaii Administrative Rules L Sp = Legislative Special Session SLH = Session Laws of Hawaii ii Table of Contents ADMINISTRATIVE TAX MEASURES ........................................................ 1 - 3 ACT 5 S.B. 1130, S.D. 2 .................................................................................................................................... 1 Relating to the Bureau of Conveyances ACT 11 S.B. 92 .................................................................................................................................................... 1 Relating to Statutory Revision: Amending or Repealing Various Provisions of the Hawaii Revised Statutes and the Session Laws of Hawaii for the Purpose of Correcting Errors and References, Clarifying Language, and Deleting Obsolete or Unnecessary Provisions ACT 40 S.B. 1327, S.D. 1, H.D. 1 ....................................................................................................................... 2 Relating to the Rate of Interest Applicable to Overpayments of Tax ACT 134 S.B. 972, S.D. 2, H.D. 1, C.D. 1 ............................................................................................................. 2 Relating to Tax Administration ACT 166 H.B. 1739, H.D. 1, S.D. 1, C.D. 1 ........................................................................................................... 3 Relating to Taxation INCOME TAX MEASURES ........................................................................ 4 - 9 ACT 60 H.B. 1747, H.D. 1, S.D. 1, C.D. 1 ........................................................................................................... 4 Relating to Taxation ACT 84 H.B. 35, H.D. 1, S.D. 1, C.D. 1 ............................................................................................................... 4 Relating to Income Tax Credit ACT 91 H.B. 1057, H.D. 1, S.D.2, C.D. 1 ............................................................................................................ 5 Relating to the State of Hawaii College Savings Program ACT 133 S.B. 971, S.D. 2, H.D. 1, C.D. 1 ............................................................................................................. 5 Relating to Conformity of the Hawaii Income Tax Law to the Internal Revenue Code iii ACT 154 S.B. 464, S.D. 2, H.D. 2, C.D. 2 ............................................................................................................. 6 Relating to Taxation ACT 155 H.B. 1464, H.D. 3, S.D. 2, C.D. 1 ........................................................................................................... 7 Relating to Energy Resources ACT 165 H.B. 1495, H.D. 1, S.D. 1, C.D. 1 ........................................................................................................... 8 Relating to State Income Tax ACT 178 S.B. 199, S.D. 1, H.D. 1, C.D. 2 ............................................................................................................. 8 Relating to Taxation ACT 181 H.B. 1550, H.D. 2, S.D. 1, C.D. 1 ........................................................................................................... 9 Relating to Taxation ACT 14, L Sp H.B. 1544, H.D. 1, S.D. 1, C.D. 1 ........................................................................................................... 9 Relating To Tax Exemptions GENERAL EXCISE/USE/TRANSIENT ACCOMMODATIONS/WITHHOLDING TAX MEASURES ........................ 10 - 11 ACT 61 S.B. 1111, S.D. 1, H.D. 1, C.D. 1 ......................................................................................................... 10 Relating to Taxation ACT 70 S.B. 427, H.D. 1, C.D. 1 ....................................................................................................................... 10 Relating to General Excise Taxation ACT 196 S.B. 1461, S.D. 2, H.D. 1, C.D. 2 ......................................................................................................... 10 Relating to Taxation TOBACCO TAX MEASURES ........................................................................ 12 ACT 30 S.B. 528, S.D. 1 .................................................................................................................................... 12 Relating to Taxation ACT 56 H.B. 1175, H.D. 3, S.D. 2, C.D. 1 ......................................................................................................... 12 Relating to Taxation ACT 58 H.B. 895, H.D. 2, S.D. 2, C.D. 1 ........................................................................................................... 12 Relating to Tax on Tobacco Products Other Than Cigarettes iv CONVEYANCE TAX MEASURES .......................................................... 13 - 14 ACT 57 S.B. 521, S.D. 2, H.D. 1 ....................................................................................................................... 13 Relating to Real Property ACT 59 H.B. 1741, H.D. 1, S.D. 1, C.D 1 .......................................................................................................... 13 Relating to the Conveyance Tax ACT 102 H.B. 271, S.D.2, C.D. 1 ........................................................................................................................ 14 Relating to Real Property MISCELLANEOUS TAX MEASURES ..................................................... 15 - 16 ACT 174 S.B. 1248, S.D. 1, H.D. 1, C.D. 1 ......................................................................................................... 15 Relating to State Enterprise Zones ACT 184 S.B. 470, H.D. 1, C.D. 1 ....................................................................................................................... 15 Relating to Liquor ACT 198 H.B. 371, H.D. 2, S.D. 2, C.D. 1 ........................................................................................................... 16 Relating to Taxation VETOED MEASURES .................................................................................. 17 H.B. 1405, H.D. 2, S.D. 2, C.D. 1 (VETO JULY 1, 2009) ................................................................... 17 Relating to the General Excise Tax H.B. 1271 H.D. 3, S.D. 2, C.D. 1 (VETO July 15, 2009) .................................................................... 17 Relating to Government S.B. 1678 S.D. 3, H.D. 1, C.D. 1 (VETO July 15, 2009) ..................................................................... 17 Relating to Taxation TABLE SHOWING EFFECT OF ACTS ................................................... 19 - 21 DIGEST OF FEDERAL LAWS .......................................................................... 22 - 165 Economic Stimulus Act of 2008 ..................................................................................................................... 22 (P.L. No. 110-185; Feb. 13, 2008) Heroes Earnings Assistance and Relief Tax Act of 2008 ............................................................................ 25 (P.L. No. 110-245; June 18, 2008) Heartland, Habitat, and Horticulture Act of 2008.......................................................................................... 34 (P.L. No. 110-246; June 18, 2008) Housing Assistance Tax Act of 2008 ............................................................................................................. 48 (P.L. No. 110-289; July 30, 2008) Hubbard Act ..................................................................................................................................................... 65 (P.L. 110-317; Aug. 29, 2008) v Emergency Economic Stabilization Act of 2008 .......................................................................................... 66 (P.L. 110-343; Oct. 3, 2008) Energy Improvement and Extension Act of 2008 ......................................................................................... 68 (P.L. 110-343; Oct. 3, 2008) Tax Extenders and AMT Relief Act ................................................................................................................ 97 (P.L. 110-343; Oct. 3, 2008) Fostering Connections to Success and Increasing Adoptions Act ........................................................
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