Bill Text: HI SB1051 | 2010 | Regular Session | Introduced
Bill Title: Income Tax; Exemption; Tax Holiday; Designated Tax Free Day
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB1051 Detail]
Download: Hawaii-2010-SB1051-Introduced.html
Report Title:
Income Tax; Exemption; Tax Holiday; Designated Tax Free Day
Description:
Authorizes the State to designate one day per month through December 31, 2011, for residents of this State and businesses registered in Hawaii to sell goods and certificates for services without any income tax consequences.
|
THE SENATE |
S.B. NO. |
1051 |
|
TWENTY-FIFTH LEGISLATURE, 2009 |
|
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
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‑ Tax holiday exemption. (a) In addition to any other applicable exemption provided under this chapter, there shall be exempted from the measure of taxes imposed by this chapter all of the value or gross income derived by resident individual taxpayers and businesses registered to do business in this State, from all proceeds on the sale of goods and certificates for service received on a state designated day at a state designated facility.
(b) For the purposes of this section, "certificates for service" means a certificate purchased during a designated tax holiday sales events from a resident individual taxpayer or business registered to do business in this State, whereby the certificate can be redeemed for personal or professional services. All certificates for service shall have an expiration date of December 31, 2011, in order for the proceeds from the certificate of service to be exempt from income under this chapter.
(c) The State shall designate one day each month until December 31, 2011, as a tax holiday sales event. The tax holiday sales events shall be conducted at a designated state facility, park, school, or other appropriate location that is owned by the State.
(d) The resident individual taxpayers and businesses that choose to participate in selling goods or certificates of service at the tax holiday sales events shall pay an entry fee of $ . The revenues generated from the entry fees shall be used to support the administrative services associated with the tax holiday sales events.
(e) The governor of the State of Hawaii shall designate either a state department or non-profit organization to serve as the statewide coordinator of the tax holiday sales events. The designated state department or non-profit organization shall have access to and use of designated state office space and facilities to help carry out the purposes of this section. (f) The State and any of its agencies or political subdivisions shall not be liable for any injury or damages that may potentially result to any non-profit or volunteer organization, entity, or individual that assists the State in administering, organizing, or managing a tax holiday sales event.
(g) The director of taxation shall prepare any forms as may be necessary to claim an exemption under this section. The director may also require proof of the claim for an exemption under this section and may adopt any rules that are necessary to effectuate the purposes of this section pursuant to chapter 91."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval; provided that this Act shall be repealed on December 31, 2011.
|
INTRODUCED BY: |
_____________________________ |
|
|
|
