STAND. COM. REP. NO. 1590

Honolulu, Hawaii

, 2005

RE: S.B. No. 1557

S.D. 2

H.D. 2

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1557, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO RENEWABLE ENERGY,"

begs leave to report as follows:

The purpose of this bill is to make permanent the renewable energy technologies tax credit by deleting its repeal date of January 1, 2008.

The Public Utilities Commission, Hawaiian Electric Company, Hawaii Electric Light Company, Maui Electric Company, Hawaii Renewable Energy Alliance, Hawaii Solar Energy Association, Hawaii PV Coalition, Island Energy Solutions, Inc., Rocky Mountain Institute, PowerLight Corporation, Inter-Island Solar Supply, and R & R Solar Supply testified in support of this bill. The Department of Business, Economic Development, and Tourism supported the intent of this measure. The Department of Taxation opposed this bill for budgetary reasons. The University of Hawaii Environmental Center and Tax Foundation of Hawaii offered comments.

Your Committee has amended this bill by:

(1) Establishing a repeal date of January 1, 2010, for the renewable energy technologies tax credit;

(2) Changing the effective date to July 1, 2010, to encourage further discussion; and

(3) Making technical, nonsubstantive amendments for consistency and to correct drafting errors.

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. 1557, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1557, S.D. 2, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT TAKAMINE, Chair