HB 2901 HD 2 SD 2 CD 1

RELATING TO THE NEW ECONOMY

By Representative(s) MORIHARA / HERKES / CASE / CACHOLA / SANTIAGO / GARCIA / ABINSAY / SAY / TAKAI / LUKE / YOSHINAGA / SUZUKI / CATALANI / KAWAKAMI / TAKAMINE / MORITA / LEE / YONAMINE / MENOR / AHU ISA / ITO / SOUKI / TAKUMI / MCDERMOTT / KAHO`OHALAHALA / STEGMAIER / ESPERO / GOODENOW / MARUMOTO / KANOHO / HAMAKAWA / OSHIRO, M. / HIRAKI / LEONG / KAHIKINA

Keywords: ADVERTISING AND MARKETING, BUSINESS ENTERPRISES, CABLE TELEVISION, COMMUNITY COLLEGES, CURRICULUM, DEPARTMENT OF BUDGET AND FINANCE, DEPARTMENT OF TAXATION, DEPT. OF BUS., ECON. DEV., & TOURISM, Dept. of Accounting and General Services, Dept. of commerce and consumer affairs, EDUCATION, EMPLOYMENT, ETHICS, GOVERNOR, HIGHER EDUCATION, INCOME TAX, LEGISLATURE, PENSION AND RETIREMENT SYSTEM, PROFESSIONS AND OCCUPATIONS, PUBLIC ADMINISTRATION, PUBLIC EMPLOYEES, PUBLIC UTILITIES, REGIONAL PLANNING, SCHOOL MAINTENANCE AND REPAIR, SCHOOLS AND SCHOOL ATTENDANCE, SMALL BUSINESS, TAX CREDITS OR REFUNDS, TAX DEDUCTIONS, TAX EXEMPTIONS, TAXATION, TOURISM, UNIVERSITY OF HAWAII, VENTURE CAPITAL

Report Title: New Economy

Description: Allows qualified high technology businesses to sell their unused net operating loss carryover to any other taxpayer. Expands the income tax exclusion for royalties and other income from high technology businesses. Allows partnership investors the flexibility of allocating the high technology business investment tax credit among partners without regard to their proportionate interests in their partnership investment vehicle. Makes the high-technology business investment tax credit and the tax credit for increasing research activities refundable to the taxpayer or allowing the credits to be used against the taxpayer's income tax liability in subsequent years until exhausted. Conforms the state tax credit for increasing research activities with the federal tax credit. Allows the board of trustees of the employees' retirement system (ERS) to invest ten percent of ERS funds in qualified high technology businesses. Appropriates funds for education, workforce development, and University of Hawaii research and training. Promotes Hawaii, through a coordinated statewide effort, as an In

 1-27-00        H Introduced and passed First Reading                      
 1-31-00        H Referred to the committees on EDB/HED/EDN/TSM
                  /CPC, and then referred jointly to the committees
                  on LAB/FIN, referral sheet 8
 2- 4-00        H Re-referred to the committees on EDB/HED, and then 
                  referred to LAB/FIN, referral sheet 12
 2- 7-00        H Bill scheduled to be heard by EDB/HED on Thursday, 
                  02/10/00 at 8:00 A.M. in House conference room
                  325.
 2-10-00        H The committees on EDB/HED recommend that the
                  measure be PASSED, WITH AMENDMENTS.
 2-10-00        H The votes in EDB were as follows:10 Ayes: Rep.(s)
                  Herkes, Luke, Abinsay, Ahu Isa, Chang, Espero, Ito,         
                  Kaho`ohalahala, Morihara, Suzuki; Ayes with
                  reservations: Rep.(s) Halford, Whalen; none Noes:
                  Rep.(s) ; and 1 Excused: Rep.(s) Rath; and
 2-10-00        H The votes in HED were as follows:5 Ayes: Rep.(s)
                  Morihara, Takai, Arakaki, Ito, McDermott; Ayes with         
                  reservations: Rep.(s) ; none Noes: Rep.(s) ; and 4
                  Excused: Rep.(s) Okamura, Santiago, Stegmaier,
                  Leong
 2-18-00        H Reported from the committee on EDB/HED (Stand. Com.
                  Rep. No. 421-00) as amended in (HD 1), recommending         
                  passage on Second Reading and referral to the
                  committee on LAB/FIN
 2-18-00        H Passed Second Reading as amended in (HD 1) and
                  referred to the committee on LAB/FIN
 2-18-00        H The vote was as follows:  47 aye(s), with none
                  voting no and Representative(s) Menor, Okamura,
                  Pendleton, Stegmaier excused
 2-22-00        H Re-referred to the committees on EDB/HED, and then 
                  referred to FIN, referral sheet 24
 2-23-00        H Bill scheduled to be heard by FIN on Friday,
                  02-25-00 at 10:30 A.M. in House conference room
                  308.
 2-25-00        H The committee on FIN recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 2-25-00        H The votes in FIN were as follows:14 Ayes: Rep.(s)
                  Takamine, Kawakami, Ahu Isa, Catalani, Espero,
                  Goodenow, Kanoho, Luke, Nakasone, Schatz, Suzuki,
                  Yamane, Marumoto, Moses; Ayes with reservations:
                  Rep.(s) Meyer; none Noes: Rep.(s) ; and 2 Excused:
                  Rep.(s) Kahikina, Fox
 3- 3-00        H Reported from the committee on FIN (Stand. Com. Rep.        
                  No. 722-00) as amended in (HD 2), recommending
                  passage on Third Reading
 3- 3-00        H Forty-eight (48) hours notice 03/07/00                   
 3- 7-00        H Passed Third Reading as amended in (HD 2)                
 3- 7-00        H The vote was as follows:  44 aye(s) to 6 no(es),
                  with Representative(s) Halford, Leong, Meyer, Moses,        
                  Rath, Whalen voting no and Representative(s) Okamura        
                  excused
 3- 7-00        H Transmitted to Senate                                    
 3- 9-00        S Received from House (Hse. Com. No. 298)                  
 3- 9-00        S Passed First Reading and referred to EDU/CPN/ECD
                  then WAM
 3-21-00        S Bill scheduled to be heard by EDU/CPN/ECD on
                  03-24-00 at 10:30 a.m. in conference room 016.
 3-24-00        S The committees on EDU/CPN/ECD recommend that the
                  measure be PASSED, WITH AMENDMENTS.
 3-24-00        S The votes in EDU were as follows: 5 Ayes: Senator(s)        
                  D. Ige, Sakamoto, Chumbley, Tam; Ayes with
                  reservations: Senator(s) Slom; none Noes: Senator(s)        
                  ; and 2 Excused: Senator(s) Bunda, Matsunaga
 3-24-00        S The votes in CPN were as follows: 6 Ayes: Senator(s)        
                  Kanno, Taniguchi, Ihara, Inouye, Matsuura; Ayes with        
                  reservations: Senator(s) Slom; none Noes: Senator(s)        
                  ; and 2 Excused: Senator(s) Bunda, Hanabusa
 3-24-00        S The votes in ECD were as follows: 5 Ayes: Senator(s)        
                  Inouye, Buen, M. Ige, Taniguchi; Ayes with
                  reservations: Senator(s) Slom; none Noes: Senator(s)        
                  ; and 1 Excused: Senator(s) Kawamoto
 3-24-00        S Reported from EDU/CPN/ECD (Stand. Com. Rep. No.
                  3019) with recommendation of passage on Second
                  Reading, as amended (SD 1) and referral to WAM
 3-24-00        S Report adopted; Passed Second Reading, as amended
                  (SD 1) and referred to WAM.
 3-28-00        S Bill scheduled for decision making by WAM on
                  03-31-00 at 9:30 a.m. in conference room 211.
 3-31-00        S The committee on WAM recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 3-31-00        S The votes in WAM were as follows: 11 Ayes:
                  Senator(s) Fukunaga, Levin, Buen, Chun, Chun
                  Oakland, D. Ige, M. Ige, Kawamoto, Nakata, Tam,
                  Anderson; Ayes with reservations: Senator(s) ; none         
                  Noes: Senator(s) ; and 2 Excused: Senator(s) Iwase,         
                  Taniguchi
 4- 3-00        S The committee on WAM will reconsider its action
                  taken on 03-31-00.
 4- 6-00        S The measure is deferred until 04-07-00 at 9:30 a.m.         
                  in conference room 211.
 4- 7-00        S The measure is deferred until 04-07-00 at 4:30 p.m.         
                  in conference room 211.
 4- 7-00        S The committee on WAM recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 4- 7-00        S The votes in WAM were as follows: 11 Ayes:
                  Senator(s) Fukunaga, Levin, Chun Oakland, D. Ige, M.        
                  Ige, Iwase, Kawamoto, Nakata, Tam, Taniguchi,
                  Anderson; Ayes with reservations: Senator(s) ; none         
                  Noes: Senator(s) ; and 2 Excused: Senator(s) Buen,
                  Chun
 4- 7-00        S Reported from WAM (Stand. Com. Rep. No. 3334) with
                  recommendation of passage on Third Reading, as
                  amended (SD 2)
 4- 7-00        S 48 hours notice 04-11-00                                 
 4-11-00        S Report adopted; Passed Third Reading, as amended (SD        
                  2). Ayes, 23.  Noes, none ().  Excused, 2 (Buen,
                  Bunda).
 4-11-00        S Transmitted to House                                     
 4-11-00        H Returned from Senate (Sen. Com. No. 575) in amended         
                  form (SD 2)
 4-13-00        H House disagrees with Senate amendment(s)                 
 4-14-00        S Received notice of disagreement (Hse. Com. No. 617)      
 4-16-00        H House conferees appointed: Herkes, Morihara,
                  Yoshinaga, Takamine (Co-)Chairman; Fox
 4-17-00        S Senate Conferees appointed: D. Ige, Fukunaga,
                  Taniguchi, Inouye, (Co-)Chair; Slom
 4-17-00        S Received notice of appointment of House conferees
                  (Hse. Com. No. 675).
 4-17-00        H Received notice of Senate conferees (Sen. Com. No.
                  664)
 4-19-00        S Senator(s) Levin added as Co-Chair(s)                    
 4-19-00        H Received notice of change in Senate conferees (Sen.         
                  Com. No. 671)
 4-20-00        H Conference Committee will have decision making on
                  Monday, 04-24-00 at 10:00 A.M. in   conference room         
                  329.
 4-24-00        S Received notice of change in conferees (Hse. Com.
                  No. 683).
 4-24-00        H House conferee(s) added:  Representative(s) Luke,
                  Marumoto
 4-24-00        H Conference Committee Meeting will reconvene on
                  Tuesday, 04-25-00 at 1:00 P.M. in conference room
                  329.
 4-25-00        H Conference Committee Meeting will reconvene on
                  Wednesday, 04/26/00 at 2:30 P.M. in conference
                  room 329.
 4-26-00        H Conference Committee Meeting will reconvene on
                  Thursday, 04/27/00 at 4:00 P.M. in conference room
                  329.
 4-27-00        H Conference Committee Meeting will reconvene on
                  Friday, 04/28/00 at 4:15 P.M. in conference room
                  423.
 4-28-00        H Conference Committee Meeting will reconvene on
                  Friday, 04-28-00 at 4:15 P.M. in conference room
                  309.
 4-28-00        H The Conference Committee recommends that the measure        
                  be Passed, with Amendments.
 4-28-00        H The votes by House Conference Managers were as
                  follows: 5 Ayes: Rep.(s) Herkes, Morihara,
                  Yoshinaga, Takamine, Luke; Ayes with reservations:
                  Rep.(s) Fox, Marumoto; none Noes: Rep.(s) ; and none        
                  Excused: Rep.(s)
 4-28-00        S The votes of the Senate Conference Managers were as         
                  follows: 6 Ayes: Senator(s) D. Ige, Fukunaga,
                  Taniguchi, Inouye, Levin, Slom; Ayes with
                  reservations: Senator(s) ; none Noes: Senator(s) ;
                  and none Excused: Senator(s) .
 4-28-00        H Reported from Conference Committee (Conf. Com. Rep.         
                  No. 161) as amended in (CD 1)
 4-28-00        H Forty-eight (48) hours notice 05-02-00                   
 4-28-00        S Reported from Conf. Com. as amended CD 1 (Conf. Com.        
                  Rep. No. 161)
 4-28-00        S 48 Hrs. Notice (as amended CD 1)                         
 5- 2-00        S Passed Final Reading, as amended (CD 1). Ayes, 25.          
                  Noes, none ().  Excused, none ().
 5- 2-00        H Passed Final Reading as amended in (CD 1)                
 5- 2-00        H The vote was as follows:  47 aye(s) to 2 no(es),
                  with Representative(s) Meyer, Rath voting no and
                  Representative(s) Okamura, Whalen excused
 5- 2-00        S Received notice of passage on Final Reading in House        
                  (Hse. Com. No. 731).
 5- 3-00        H Transmitted to Governor                                  
 5- 3-00        H Received notice of Final Reading (Sen. Com. No. 725)     
 7- 6-00        S Act 297, 07-05-00, (Gov. Msg. No. 375)                   
 7- 6-00        H Act 297, on 07-05-00 (Gov. Msg. No. 254)