STAND. COM. REP. NO. 615-04
Honolulu, Hawaii
, 2004
RE: H.B. No. 2784
H.D. 1
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. 2784, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO STATE ENTERPRISE ZONES,"
begs leave to report as follows:
The purpose of this bill is to amend the eligibility requirements of the Enterprise Zone Program (EZP) to allow more agricultural businesses the opportunity to participate by:
(1) Extending the seven-year eligibility period by the number of months that a force majeure event would have prevented an agricultural business from maintaining its EZP eligibility;
(2) Providing a revenue growth criteria option for an agricultural business that failed to meet the employment growth requirement of the EZP; and
(3) Extending the seven years of tax credits by an additional seven years.
The Department of Agriculture with amendments, Department of Business, Economic Development, and Tourism, Hawaii Farm Bureau, Maui County Farm Bureau, Pineapple Growers Association of Hawaii, Hawaii Agriculture Research Center, Land Use Research Foundation of Hawaii, Hawaii Cattlemen's Council, Gay & Robinson, Inc., Nalo Farms, Inc., Local Island Fresh Edibles, Inc., and Hawaiian Commercial & Sugar Company testified in support 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. 2784, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
|
____________________________ DWIGHT Y. TAKAMINE, Chair |
||