Bill Text: HI HB1810 | 2014 | Regular Session | Introduced
Bill Title: Typhoon Haiyan; Accelerated Tax Benefits; Taxation
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2014-01-21 - Referred to FIN, referral sheet 3 [HB1810 Detail]
Download: Hawaii-2014-HB1810-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1810 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235- Temporary acceleration of income tax benefits for charitable cash contributions for relief of Typhoon Haiyan victims. (a) Notwithstanding any other law to the contrary, for purposes of calculating income tax liability under this chapter, a taxpayer may treat any contribution defined in subsection (c) made after January 1, 2014, and before March 1, 2014, as if the contribution was made by December 31, 2013, and not in 2014.
(b) Taxpayers claiming an accelerated income tax benefit under this section shall furnish to the department of taxation documentation establishing that the contribution was made for the relief of Typhoon Haiyan victims. Documentation shall include a bank record or a written communication from the donee organization attesting to the contribution and shall state the:
(1) Name of the donee organization;
(2) Date of the contribution; and
(3) Amount of the contribution.
(c) As used in this section, "contribution" means a cash contribution made for the relief of victims in areas affected by Typhoon Haiyan, which struck the Philippines in early November of 2013, for which a charitable contribution is allowable under section 170 of the Internal Revenue Code of 1986, as amended."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall take effect retroactive to January 1, 2013, and shall be repealed on December 31, 2014.
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INTRODUCED BY: |
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Report Title:
Typhoon Haiyan; Accelerated Tax Benefits; Taxation
Description:
Allows taxpayers to accelerate the deduction for charitable cash contributions for the relief of victims of Typhoon Haiyan by allowing taxpayers who donate to the relief efforts before March 1, 2014, to take the charitable deduction for the 2013 taxable year.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
