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. 723 entitled:

begs leave to report as follows:

The purpose of this bill is to provide for a sharing of the public service company tax revenues with those counties that establish by ordinance an exemption from real property tax for public service companies.

The Department of Taxation (DOT), the Hawaii State Association of Counties, the Office of the Corporation Counsel of the County of Hawaii, the Department of Corporation Council of the City and County of Honolulu, the Hawaiian Electric Company, Inc., Maui Electric Company, Hawaii Electric Light Company, and several councilmembers from Hawaii and Maui County, Mayor of Maui County, the Maui County Council, Office of the County Attorney of the County of Kauai, Kauai Electric, The Gas Company, Kauai County, and Verizon Hawaii, Inc. testified in support of this bill. The Tax Foundation of Hawaii submitted comments on this bill.

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. 723 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.