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

 

 

MEASURES DEFERRED TO TUESDAY, FEBRUARY 13, 2007

 

DATE:

Tuesday, February 13, 2007

TIME:

1:15 p.m.

PLACE:

Conference Room 224

State Capitol

415 South Beretania Street

 

DECISION MAKING ON THE FOLLOWING MEASURE(S):

(Deferred from Saturday, February 10, 2007)

 

SB 1922

Proposed SD 1

RELATING TO CREATIVE MEDIA.

Creates financial incentives for and appropriates funds to the academy for creative media at the University of Hawaii to develop plans for a permanent facility; establishes and appropriates funds for the music enterprise learning experience program at the University of Hawaii-Honolulu Community College to develop the technical business skills required by Hawaii's music artists and music industry. (SD1)

 

EDT/EDU, WAM

Copies of the proposed SD 1 are available in room 216 and on the Legislature's website:  www.capitol.hawaii.gov.

 

 

 

SB 1920

Proposed SD 1

RELATING TO TAXATION.

Recodifies and renames existing motion picture, digital media, and film production tax provisions.  Increases the tax credits from fifteen and twenty per cent to twenty and twenty-five per cent.  Increases reporting requirements.  Increases membership of the Hawaii television and film board; enables the board to delegate certain administrative functions to subcommittees; authorizes the board to not have to meet if no money is in its special fund or no grants are being managed; and appropriates funds to the board's special fund for grants programs. (SD1)

 

EDT, WAM

Copies of the proposed SD 1 are available in room 216 and on the Legislature's website:  www.capitol.hawaii.gov.

 

 

 

SB 302

SD1

(SSCR4)

RELATING TO THE ARTS.

Adds an unspecified percentage to the works of art special fund for performing arts.  (SD1)

 

EDT, WAM

SB 11

SD1

(SSCR77)

RELATING TO EXCISE TAX ON HEALTH CARE.

Exempts physician services, hospital charges, nursing services, and rehabilitation services from the county surcharge on state tax.  (SD1)

 

HTH/IGM, EDT, WAM

SB 1133

SD1

(SSCR73)

RELATING TO TAXATION.

Requires businesses with at least fifty employees that receive school repair and maintenance, certain renovation and development, and high technology tax credits under sections 235‑110.2, 235-110.3, 235-110.46, 235‑110.51, 235-110.6, 235‑110.8, 235-110.9, and 235‑110.91, Hawaii Revised Statutes, to provide experiential learning opportunities to public school students.  (SD1)

 

EDU, EDT, WAM

SB 750

SD1

(SSCR13)

RELATING TO TRANSIENT ACCOMMODATIONS TAX.

Requires department of taxation to review the forms and process for collecting the transient accommodations tax from vacation rentals and bed and breakfast establishments and report revenues received from them.  Requires department of taxation to work with Hawaii tourism authority and counties to identify owners operating vacation rentals and bed and breakfast establishments and enforce transient accommodations tax compliance.  Clarifies duties of Hawaii tourism authority.  (SD1)

 

TSG, EDT, WAM

SB 1962

SD1

(SSCR56)

RELATING TO TAXATION.

Provides an income tax deduction to residential unit owner occupants for qualifying costs of installation of an automatic fire sprinkler system installed after December 31, 2007.  (SD1)

 

CPH, EDT, WAM

SB 798

SD1

(SSCR79)

RELATING TO DISASTER RELIEF.

Creates a one-time tax credit for victims of the October 15, 2006 earthquakes.  (SD1)

 

IGM, EDT, WAM

SB 1497

SD1

(SSCR115)

RELATING TO CONFORMITY OF THE HAWAII INCOME TAX LAW TO THE INTERNAL REVENUE CODE.

Amends Hawaii's income tax law to conform with changes to the Internal Revenue Code.  (SD1)

 

EDT, WAM

SB 1007

SD1

(SSCR44)

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 7/1/07.  (SD1)

 

CPH, EDT, WAM

SB 1506

SD1

(SSCR45)

RELATING TO RENTAL MOTOR VEHICLE SURCHARGE TAX.

Extends the rental vehicle surcharge tax effective date beyond September 1, 2007.  (SD1)

 

CPH/TIA, EDT, WAM

SB 1034

(SSCR37)

RELATING TO TAXATION.

Exempts from general excise and use taxes the fuel sold from a foreign-trade zone for intrastate air transportation by common carriers.

 

TIA, EDT, WAM

 

 

 

 

 

No testimony will be accepted.

 

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 808-586-6890.