THE SENATE

THE TWENTY-FOURTH LEGISLATURE

REGULAR SESSION OF 2007

COMMITTEE ON ECONOMIC DEVELOPMENT AND TAXATION

Senator Carol Fukunaga, Chair

Senator Will Espero, Vice Chair

COMMITTEE ON ENERGY AND ENVIRONMENT

Senator Ron Menor, Chair

Senator Gary L. Hooser, Vice Chair

COMMITTEE ON TOURISM AND GOVERNMENT OPERATIONS

Senator Clarence K. Nishihara, Chair

Senator Donna Mercado Kim, Vice Chair

NOTICE OF HEARING

DATE:	Tuesday, March 20, 2007
TIME:	1:15 pm
PLACE:	Conference Room 224 State Capitol 415 South Beretania Street

A G E N D A

EDT/ENE

HB 200 HD1 (HSCR1080)

RELATING TO THE NATURAL ENERGY LABORATORY OF HAWAII AUTHORITY. Directs the auditor to conduct a financial and management audit of NELHA's deep seawater pumping system and establish a reasonable rate structure that includes consideration of NELHA's effect on the economy.  Freezes rates until the audit is complete.  (HB200 HD1)

EDT/ENE, WAM

EDT/TSG

HB 1719 HD1 (HSCR1099)

RELATING TO GENERAL EXCISE TAX. Extends the current general excise tax exemptions for condominium common expenses paid by managers and hotel employee expenses paid by hotel operators, to include expenses paid by submanagers and suboperators and to include employee expenses in timeshare projects.  (HB1719 HD1)

EDT/TSG, WAM

EDT Only

HB 570 HD1, SD1 (SSCR1056)	RELATING TO GENERAL EXCISE TAX. Exempts from the general excise tax amounts received by the operator of the Hawaii convention center for reimbursement of costs or advances made pursuant to contract with the Hawaii tourism authority. (HB570 HD1)	TSG, EDT, WAM
HB 252 HD1 (HSCR1061)	RELATING TO CONVEYANCE TAXES FOR SPECULATIVE SALES. Increases conveyance tax rates for sales of condominiums or single-family residences where the purchaser is ineligible for a county homeowner's property tax exemption.  (HB252 HD1)	CPH, EDT, WAM
HB 1002 HD2, SD1 (HSCR1062)	RELATING TO INCOME TAX. Assesses a graduated anti-speculation tax on the capital gains realized on real property held from less than 6 months and up to 24 months before sold.  Deposits realizations to Rental Housing Trust Fund.  (HB1002 HD2)	CPH, EDT, WAM
HB 506 HD1, SD1	RELATING TO ETHANOL. Extends the tax credit for qualified ethanol production facilities for 5 years from January 1, 2012 to January 1, 2017.  (HB506 HD1)	ENE, EDT, WAM (pending referral to EDT)
HB 1289 HD2, SD1	RELATING TO RENEWABLE ENERGY. Requires that a renewable energy technology system be installed and operated in the state to qualify for the Renewable Energy Technology Tax Credit.  Removes the requirement that the individual or corporate taxpayer applying for the tax credit be a resident of the state.  (HB1289 HD2)	ENE, EDT, WAM (pending referral to EDT)
HB 92 HD1, SD1 (HSCR1060)	RELATING TO THE GENERAL EXCISE TAX. Requires an investment broker and agent who share compensation for their services to pay the general excise tax on only that portion of the compensation retained by each.  Effective 7/1/2020. (HB92 HD1)	CPH, EDT, WAM
HB 902 HD2, SD1 (HSCR1064)	RELATING TO AGRICULTURAL TAX CREDITS. Establishes the Important Agricultural Land Agricultural Business Tax Credit.  (HB902 HD2)	WAH, EDT, WAM

HB 881 HD1 (HSCR949)	RELATING TO COST OF LIVING ADJUSTMENTS TO INCOME TAX RATES AND STANDARD DEDUCTION AND PERSONAL EXEMPTION AMOUNTS. Provides for the assessment of tax rates and computation of the standard deduction and personal exemption based on inflation. Effective July 1, 2020 (HB881 HD1)	EDT, WAM
HB 1799 HD1 (HSCR953)	RELATING TO TAXATION. Provides for a state earned income tax credit.  (HB1799 HD1)	EDT, WAM
HB 1034 (HSCR789)	RELATING TO TAXES. Requires the department of taxation to provide the legislature with certain annual and biennial reports.	EDT, WAM
HB 1083 HD2 (HSCR1190)	RELATING TO HIGH TECHNOLOGY. Appropriates an unspecified amount in FY 2007-2008 to the high technology development corporation to negotiate a 10-year lease to construct the Asia Pacific International Research Center for high technology in Kakaako. Effective July 1, 2020.  (HB 1083 HD2)	EDT, WAM

Decision Making to follow, if time permits.

Persons wishing to testify should submit testimony in one of the following ways at least 24 hours prior to the hearing:

· In person: 25 copies of their testimony to the committee clerk, Room 216, State Capitol.

· By fax:  Testimony may be faxed if less than 5 pages in length, to the Senate Sergeant-At-Arms Office at 586-6659 or 1-800-586-6659 (toll free for neighbor islands), at least 24 hours prior to the hearing.  When faxing, please indicate to which committee the testimony is being submitted, the date and time of the hearing, and the number of copies needed for submittal.

· By Email:  Testimony may be emailed if less than 5 pages in length, to the Legislature's Public Access Room at testimony@capitol.hawaii.gov.  Please indicate to which committee the testimony is being submitted, the date and time of the hearing, and the number of copies needed for submittal.  In addition, please provide the testifier's name and mailing address in the email.  Email sent to individual offices or any other Senate office will not be accepted.

If you require special assistance or auxiliary aids or services to participate in the public hearing process (i.e., sign language interpreter or wheelchair accessibility), please contact the committee clerk 24 hours prior to the hearing so arrangements can be made.

Public Folder.  A folder labeled “Public Folder” containing the measures and testimonies for the hearing will be available for shared use by members of the public.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6934.

________________________________________ Senator Ron Menor Chair	________________________________________ Senator Carol Fukunaga Chair
	________________________________________ Senator Clarence K. Nishihara Chair