STAND. COM. REP. NO. 607-04
Honolulu, Hawaii
, 2004
RE: H.B. No. 2528
H.D. 2
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 2528, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CONSERVATION LAND,"
begs leave to report as follows:
The purpose of this bill is to establish a conservation land tax credit in the amount of a percentage of the appraised value of the land, not to exceed a certain value, for landowners who:
(1) Donate conservation land to the State; or
(2) Voluntarily reclassify residentially zoned land to conservation.
The Office of Hawaiian Affairs, Sierra Club, Hawaii Chapter, Hawaii Audubon Society, a Maui County Councilmember, and a concerned individual testified in support of this bill. The Department of Land and Natural Resources and several concerned citizens supported the intent of this measure. The Department of Taxation opposed this measure. The Tax Foundation of Hawaii provided comments.
Your Committee has amended this bill by:
(1) Changing the effective date to July 1, 2010, to facilitate further discussion; and
(2) Making technical, nonsubstantive amendments for style and clarity.
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. 2528, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2528, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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