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HI HB2370

Bill

Official Source

Status

Enrolled

4/8/2014

Primary Sponsor

Beth Fukumoto Chang

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Changes Hawaii Revised Statutes Section 231-27 to require partial tax payments be credited first to principal, then to interest, and then to penalties (reversing the current order of interest, penalties, principal).

  • Allows taxpayers to reduce their principal tax debt more quickly, potentially reducing their overall tax burden given Hawaii's high cost-of-living.

  • Does not affect rights, duties, penalties, or proceedings that matured or began before the effective date.

  • Becomes effective on July 1, 2030.

Legislative Description

Taxation; Distribution of Partial Payment

Last Action

Received notice of Senate conferees (Sen. Com. No. 677).

4/14/2014

Committee Referrals

Ways and Means3/6/2014
Finance1/27/2014

Full Bill Text

No bill text available