Bill Text: HI SB2982 | 2014 | Regular Session | Introduced
Bill Title: State Constitution; Amendment; Retirement Benefits; Exclusion from Taxation (ConAm)
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2014-01-23 - Referred to JDL, WAM. [SB2982 Detail]
Download: Hawaii-2014-SB2982-Introduced.html
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THE SENATE |
S.B. NO. |
2982 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
proposing an amendment to article vii, section 2, of the hawaii constitution, to exclude certain retirement benefits from income taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to propose an amendment to article VII, section 2, of the Constitution of the State of Hawaii to exclude certain retirement benefits from income taxation.
SECTION 2. Article VII, section 2, of the Constitution of the State of Hawaii is amended to read as follows:
"INCOME TAXATION
Section 2. In enacting any law imposing a tax on or measured by income, the legislature may define income by reference to provisions of the laws of the United States as they may be or become effective at any time or from time to time, whether retrospective or prospective in their operation. The legislature may provide that amendments to such laws of the United States shall become the law of the State upon their becoming the law of the United States. The legislature shall in any such law set the rate or rates of such tax. The legislature may in so defining income make exceptions, additions or modifications to any provisions of the laws of the United States so referred to and provide for retrospective exceptions or modifications to those provisions which are retrospective. The legislature shall define income by excluding retirement benefits if the employee contributions made toward those retirement benefits were not excluded from income taxation."
SECTION 3. The question to be printed on the ballot shall be as follows:
"Shall retirement benefits be excluded from state income taxation if the beneficiaries' contributions were subject to state income taxation?"
SECTION 4. New constitutional material is underscored.
SECTION 5. This amendment shall take effect upon compliance with article XVII, section 3, of the Constitution of the State of Hawaii.
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INTRODUCED BY: |
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Report Title:
State Constitution; Amendment; Retirement Benefits; Exclusion from Taxation
Description:
Proposes a constitutional amendment to exclude certain retirement benefits from income taxation.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
