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 S.B. No. 2396, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to exempt from the general excise tax, income derived by associations or organizations from private contributions and from registration, exhibit, or advertising fees associated with conventions, conferences, and trade shows.

The Hawaii Tourism Authority and the Aloha Society of Association Executives testified in support of this bill. The Department of Taxation, Department of Business, Economic Development, and Tourism, Attorney General, Tax Foundation of Hawaii, and Societe Internationale d'Urologie provided comments.

Your Committee has amended this bill by:

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 S.B. No. 2396, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2396, S.D. 1, H.D. 1.