STAND. COM. REP. NO. 755-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2955
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
2955 entitled: 

     "A BILL FOR AN ACT RELATING TO NEW ECONOMY SKILLS TRAINING,"

begs leave to report as follows:

     The purpose of this bill is to support the growth and
development of technology in Hawaii by providing an income tax
credit for the cost of training the taxpayer or the taxpayer's
employees to upgrade their technology-related skills.

     The High Technology Development Corporation and the Hawaii
Technology Trade Association testified in support of the intent
of this measure.  The Department of Taxation also testified in
support of the intent of this measure but had some concerns.
Comments were submitted by the Tax Foundation of Hawaii.

     Your Committee has amended this bill by making technical,
nonsubstantive amendments for clarity, consistency, and style.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
2955, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 2955, H.D. 1.


 
 
 
 
 
                                 STAND. COM. REP. NO. 755-00
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair