Bill Text: HI HB2328 | 2012 | Regular Session | Amended

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Bill Title: Taxation; Estate and Transfer Tax; Leased Fee Interest Sale; Capital Gains; Exempt from Taxation

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-07-06 - (S) Act 220, 7/5/2012 (Gov. Msg. No. 1323). [HB2328 Detail]

Download: Hawaii-2012-HB2328-Amended.html

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CONFERENCE COMMITTEE REP. NO. 54-12

 

Honolulu, Hawaii

                 , 2012

 

RE:    H.B. No. 2328

       H.D. 1

       S.D. 1

       C.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sirs:

 

     Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 2328, H.D. 1, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose of this bill is to provide for the more efficient collection of estate and transfer taxes by establishing a new chapter in the Hawaii Revised Statutes governing estate and generation-skipping transfer taxes.

 

     Your Committee on Conference has amended this measure by:

 

     (1)  Clarifying the definition of a "decedent";

 

     (2)  Specifying that the provisions established in this measure apply to decedents dying or taxable transfers occurring after January 25, 2012, and making the provisions of Chapter 236D, Hawaii Revised Statutes, Estate and Transfer Tax, inoperative after that date; and

 

     (3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 2328, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 2328, H.D. 1, S.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

 

____________________________ DAVID Y. IGE, Chair		____________________________ ISAAC W. CHOY, Chair