Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Agriculture, to which was referred H.B. No. 483 entitled:

begs leave to report as follows:

The purpose of this bill is to promote investment in agricultural infrastructure by establishing a nonrefundable tax credit, capped at $2,000,000 in the aggregate for each taxable year, for agricultural infrastructure improvement costs incurred by taxpayers.

The Land Use Research Foundation of Hawaii and Hawaii Farm Bureau Federation supported this bill. The Department of Agriculture supported the intent of this measure. The Department of Taxation opposed this bill.

As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 483 and recommends that it pass Second Reading and be referred to the Committee on Finance.