STAND. COM. REP. NO.505-02
Honolulu, Hawaii
, 2002
RE: H.B. No. 2454
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 2454 entitled:
"A BILL FOR AN ACT RELATING TO ENTERPRISE ZONES,"
begs leave to report as follows:
The purpose of this bill is to minimize business failures and lay-offs by making it easier for firms participating in the Hawaii Enterprise Zones (EZ) Partnership to fulfill their hiring requirements. This bill:
(1) Allows EZ firms to fulfill their hiring requirements for any fiscal year that includes September 11, 2001, by using their average annual number of full-time employees as of August 31, 2001, rather than their average annual number at the end of the fiscal year;
(2) Allows EZ firms to use their average annual number of full-time employees at the end of the fiscal year that includes September 11, 2001, as its base number of full-time employees if necessary to meet their hiring requirements in future fiscal years; and
(3) Eliminates the use tax exemption for EZ firms.
The Department of Business, Economic Development, and Tourism supported the intent of 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. 2454 and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
|
____________________________ DWIGHT Y. TAKAMINE, Chair |
||