STAND. COM. REP. NO. 3518
Honolulu, Hawaii
RE: H.B. No. 3118
H.D. 1
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2006
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred H.B. No. 3118, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CORPORATIONS,"
begs leave to report as follows:
The purpose of this measure is to authorize corporations to incorporate as responsible business corporations and be exempt from a percentage of all corporate taxes.
Your Committee understands that this measure will encourage the development of businesses that promote the public interest by requiring input from the corporation's employees and other stakeholders, as well as consideration of societal issues and the economy of the State and the nation, when determining what is in the best interests of the corporation.
Your Committee has amended this measure by:
(1) Deleting the tax provisions;
(2) Changing the effective date to July 1, 2050, to facilitate further discussion of the matter; and
(3) Making technical nonsubstantive amendments for the purposes of style and clarity.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 3118, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3118, H.D. 1, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
|
____________________________ BRIAN T. TANIGUCHI, Chair |
||