Bill Text: HI HB1905 | 2010 | Regular Session | Introduced
Bill Title: General Excise Tax; Fringe Benefit Contributions; Tax Refunds
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2010-03-03 - (S) Referred to LBR, WAM. [HB1905 Detail]
Download: Hawaii-2010-HB1905-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1905 |
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TWENTY-FIFTH LEGISLATURE, 2010 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to state payments.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to address state payments of past liabilities that were delayed to balance the state budget. More specifically, this Act sets aside from general excise tax revenues, the amounts necessary to pay those liabilities in the form of tax refunds and employer fringe benefit contributions. This Act takes effect on July 1, 2011.
SECTION 2. Section 237-31, Hawaii Revised Statutes, is amended to read as follows:
"§237-31 Remittances. All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted. The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:
(1) The sum from all general excise tax revenues
realized by the State that represents the difference between $45,000,000 and
the proceeds from the sale of any general obligation bonds authorized for that
fiscal year for the purposes of the state educational facilities improvement
special fund shall be deposited in the state treasury in each fiscal year to
the credit of the state educational facilities improvement special fund; [and]
(2) A sum, not to exceed $5,000,000, from all general
excise tax revenues realized by the State shall be deposited in the state
treasury in each fiscal year to the credit of the compound interest bond
reserve fund[.];
(3) A sum, not to exceed $63,000,000, from all general excise tax revenues realized by the State shall be deposited into a separate account in the general fund to address delayed payments of state contributions to the employees' retirement system and Hawaii employer-union health benefits trust fund that were not paid for fiscal year 2008-2009; and
(4) A sum, not to exceed $275,000,000, from all general excise tax revenues realized by the State shall be deposited into a separate account in the general fund to address delayed payments of state tax refunds that were not paid in order to balance the supplemental executive budget for fiscal year 2009-2010."
SECTION 3. The legislature intends that the moneys in the accounts established pursuant to this Act be expended during the fiscal year 2011-2012 to pay the fringe benefit contribution and tax refund amounts that were not paid in order to balance the state budget during the fiscal period 2008-2009 to 2010-2011.
The governor shall submit appropriate legislation to the senate president and speaker of the house of representatives prior to the regular session of 2011 proposing appropriations to make the payments under this Act.
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2011 and shall apply to taxable years beginning after December 31, 2010.
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INTRODUCED BY: |
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Report Title:
General Excise Tax; Fringe Benefit Contributions; Tax Refunds
Description:
Remits general excise tax funds to pay fringe benefit contributions and tax refunds not paid in previous fiscal years to balance the state budget. Act takes effect on 07/01/2011.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
