STAND. COM. REP. NO. 114
Honolulu, Hawaii
, 2005
RE: H.B. No. 1420
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Economic Development & Business Concerns, to which was referred H.B. No. 1420 entitled:
"A BILL FOR AN ACT RELATING TO TECHNOLOGY GROWTH,"
begs leave to report as follows:
The purpose of this bill is to:
(1) Establish a tax credit for taxpayers that contribute in-kind services to establish or maintain technology laboratories in public schools; and
(2) Appropriate funds for Project EAST expansion and for the Economic Development Alliance of Hawaii to coordinate marketing, with emphasis on representing Hawaii's technology companies and opportunities on the mainland.
The Maui Economic Development Board testified in support of this bill. The Department of Business, Economic Development, and Tourism testified in support of this bill's intent. The Department of Taxation testified in opposition to this bill.
Your Committee finds that the tax credits provided for in this bill will continue the state's commitment to facilitate the growth of up-and-coming Hawaii-based technology firms.
As affirmed by the record of votes of the members of your Committee on Economic Development & Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1420 and recommends that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development & Business Concerns,
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____________________________ ROBERT N. HERKES, Chair |
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