Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1074, H.D. 2, S.D. 2, entitled:

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this bill is to provide an income tax credit for construction of new drought mitigating water storage facilities, or repair or reconstruction of existing water storage facilities.

Your Committee on Conference finds that this measure will provide an incentive for farmers and ranchers to build agricultural water storage facilities to address extended drought periods and allow a more efficient use and distribution of water.

Upon careful consideration, your Committee on Conference has amended this measure by:

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1074, H.D. 2, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1074, H.D. 2, S.D. 2, C.D. 1.