SUBJECT:  INCOME, Make Renewable Fuels Production Credit Permanent, Increase Cap, Apply to More Types of Biofuel

BILL NUMBER:  SB 3077, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases the renewable fuel production tax credit cap to $3,500,000 and makes the tax credit permanent. A direct appropriation would be preferable as it would provide some accountability for the taxpayer funds being utilized to support this effort.  Meaning, we as taxpayers know what we’re getting and we know how much we’re paying for it.

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SUBJECT:  INCOME, Healthcare Preceptor Tax Credits

BILL NUMBER:  SB 2298, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  This bill provides a credit for doctors who teach other doctors.  It is much simpler and much less expensive in administrative costs for the preceptor credit assurance committee, or the agency to which it is attached, to cut a check to any qualifying physician.

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SUBJECT:  INCOME, Extend Important Agricultural Land Credit

BILL NUMBER:  SB 2074, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Section 1 of the bill extends the important agricultural land tax credit by four years.  Given the sparse utilization of the credit to date, the need for the extension is questionable.

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SUBJECT:  INCOME, Increase HARPTA Withholding to 7.25%

BILL NUMBER:  SB 508, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases withholding on the sale of Hawaii real property from 5% to 7.25%.

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SUBJECT:  INCOME, Increase Tax Checkoff for Libraries

BILL NUMBER:  HB 2354, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases from $2 to $5 the amount of authorized income tax check-off that may be designated payable from an individual’s state income tax refund to the libraries special fund. Permits designation of check-off in the amount of $4 or $10 to the library special fund. Effective for taxable years after December 31, 2017.  A direct appropriation to the libraries would increase transparency and accountability.

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SUBJECT:  INCOME, Allows Dept. of Health to Certify More Large Cesspools

BILL NUMBER:  HB 1802, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Amends the cesspool upgrade, conversion, or connection income tax credit pilot program by repealing the provision that restricts DOH from certifying more than two residential large capacity cesspools as qualified cesspools.

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SUBJECT:  INCOME, Extend Qualified Agricultural Cost Credit

BILL NUMBER:  SB 783, HD-1

INTRODUCED BY:  House Committee on Agriculture

EXECUTIVE SUMMARY:  Slightly expands the qualified agricultural cost credit by allowing some debris removal and soil restoration costs to be creditable, and removes the sunset on the credit.  The continued need for this credit is questionable.

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