HOUSE OF REPRESENTATIVES

THE TWENTY-THIRD LEGISLATURE

REGULAR SESSION OF 2005

COMMITTEE ON FINANCE

Rep. Dwight Y. Takamine, Chair

Rep. Bertha C. Kawakami, Vice Chair

Rep. Mele Carroll	Rep. Clift Tsuji
Rep. Pono Chong	Rep. Glenn Wakai
Rep. Cindy Evans	Rep. Ryan I. Yamane
Rep. Jon Riki Karamatsu	Rep. Kyle T. Yamashita
Rep. Marilyn B. Lee	Rep. Galen Fox
Rep. Michael Y. Magaoay	Rep. Colleen Rose Meyer
Rep. Bob Nakasone	Rep. Mark S. Moses
Rep. Scott Y. Nishimoto	Rep. Kymberly N. Pine
Rep. Kameo Tanaka

NOTICE OF HEARING

DATE:	MONDAY, February 28, 2005
TIME:	3:45 P.M.
PLACE:	Conference Room 308 State Capitol 415 South Beretania Street

A G E N D A # 5

HB 994 HD1 (HSCR554)	RELATING TO TAXATION. Establishes an investment tax credit for qualified investments in the motor sports recreation, public safety training, educational, and medical facility to be developed at Kalaeloa, parcel 9; provides certain limitations.	WLO/TAC, FIN
HB 1199 HD1 (HSCR100)	RELATING TO THE FILIPINO CENTENNIAL CELEBRATION COMMISSION. Appropriates funds to the Filipino centennial celebration commission for the celebration of the Filipino centennial anniversary of their arrival in Hawaii.	TAC, FIN
HB 997 (HSCR256)	RELATING TO TRANSIENT ACCOMMODATIONS TAX. Repeals the TAT trust fund. Increases the ceiling amount that may be transferred from the TAT to the convention center enterprise special fund. Readjusts TAT fund percentages earmarked for specific purposes.	TAC, FIN
HB 998 HD1 (HSCR312)	RELATING TO HOTEL CONSTRUCTION AND REMODELING TAX CREDIT. Extends and revises the hotel construction and remodeling tax credit to 8% on 7/1/05, 4% on 7/1/09 and repeals the tax credit on 7/1/12; removes time share facilities, condominiums, and commercial buildings and facilities located within a qualified resort area from the definition of "qualified hotel facility"; includes recapture provisions in the event a qualified hotel facility is converted, or is being converted, to a time share facility or condominium.	TAC/EDB, FIN
HB 1590 HD1 (HSCR313)	RELATING TO THE HAWAII FILM AND DIGITAL MEDIA INDUSTRY. Temporarily replaces the motion picture and film production tax credit with the motion picture, digital media, and film production tax credit which provides an income tax credit amounting to 15% of qualified production costs incurred, in any county of Hawaii with a population over 700,000, and 20% in any county of Hawaii with a population under 700,000; establishes criteria to qualify for the tax credit; caps credit at $8,000,000 per production.	TAC/EDB, FIN

DECISION MAKING TO FOLLOW

PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 45 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) ROOM 306, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS TESTIMONY DROP OFF BOX IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY ALSO BE FAXED IF LESS THAN 5 PAGES IN LENGTH TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT IS NEEDED FOR SUBMITTAL.

IT IS ALSO REQUESTED THAT THE COPIES BE ON ONE SIDE OF AN 8-1/2" X 11" SHEET. FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6200.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER, WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE COMMITTEE CLERK AT LEAST 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE.

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Rep. Dwight Takamine

Chair