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HI HB329

Bill

Official Source

Status

Introduced

1/22/2013

Primary Sponsor

Isaac Choy

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Narrows the scope of the general excise tax exemption for scientific contracts with the United States federal government
  • Amends the exemption to align with parameters established by section 41 of the Internal Revenue Code to improve administrative efficiency
  • Addresses significant administrative burden on the Department of Taxation, which currently dedicates 10 percent of its audit staff to evaluate exemption claims
  • Originally intended to help local contractors compete with out-of-state entities for scientific contracts with federal facilities
  • Recommended for referral to the Committee on Finance with support from the Department of Taxation

Legislative Description

General Excise Tax; Exemption for Certain Scientific Contracts with the United States

Last Action

Report adopted; referred to the committee(s) on FIN with none voting aye with reservations; Representative(s) McDermott voting no (1) and Representative(s) Carroll, Coffman, Hanohano, Har, Kawakami, Ward excused (6).

2/15/2013

Committee Referrals

Finance2/15/2013
Consumer Protection & Commerce2/7/2013
Economic Development & Business1/22/2013

Full Bill Text

No bill text available