STAND. COM. REP. NO.816
Honolulu, Hawaii
, 2001
RE: H.B. No. 719
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 719 entitled:
"A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY,"
begs leave to report as follows:
The purpose of this bill is to clarify the tax benefits of high technology businesses.
The Department of Taxation, Office of the Governor, High Technology Development Corporation, Oceanit, and the Hawaii Technology Trade Association testified in support of this measure. The Tax Foundation of Hawaii provided comments.
Your Committee has amended this bill by:
(1) Requiring the Department of Business, Economic Development, and Tourism, in concert with private industry, to produce an annual report to evaluate the effectiveness of the various tax incentive initiatives designed to create and develop a high technology industry within the State; and
(2) Making technical, nonsubstantive amendments for purposes of 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. 719, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 719, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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