STAND. COM. REP. NO. 1068-04
Honolulu, Hawaii
, 2004
RE: H.C.R. No. 101
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2004
State of Hawaii
Sir:
Your Committee on Economic Development and Business Concerns, to which was referred H.C.R. No. 101 entitled:
"HOUSE CONCURRENT RESOLUTION REQUESTING THE DEPARTMENTS OF TAXATION AND BUSINESS, ECONOMIC DEVELOPMENT, AND TOURISM TO CONDUCT A REVIEW AND COST BENEFIT ANALYSIS OF ALL CURRENT TAX INCENTIVES UNDER TITLE 14, HAWAII REVISED STATUTES,"
begs leave to report as follows:
The purpose of this Resolution is to request the Department of Taxation in conjunction with the Department of Business, Economic Development and Tourism to review all State tax incentives under Title 14, Hawaii Revised Statutes, to ensure the justification for such incentives still applies.
The Resolution, among other things:
(1) Requests the Department of Taxation to compile data on all current tax incentives provided under title 14,
Hawaii Revised Statutes, that benefit a specific
person, group, or organization and does not apply to the
general public;
(2) Requests that the Department of Business, Economic
Development, and Tourism, conduct a review and cost benefit analysis pursuant to this Resolution of all
current tax incentives, with the assistance of the Department of Taxation;
(3) Requests the Department of Business, Economic
Development, and Tourism to include in the review
and cost benefit analysis a detailed justification of
each tax incentive.
Tax Foundation of Hawaii submitted testimony in support of this Resolution. The Department of Taxation and the Department of Business, Economic Development, and Tourism submitted testimony supporting the intent of the Resolution.
As affirmed by the record of votes of the members of your Committee on Economic Development and Business Concerns that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 101 and recommends that it be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,
____________________________ BRIAN SCHATZ, Chair |
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