STAND. COM. REP. NO. 983
Honolulu, Hawaii
, 2005
RE: S.B. No. 1698
S.D. 2
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 1698, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO TECHNOLOGY GROWTH,"
begs leave to report as follows:
The purpose of this measure is to provide a tax credit for contributions of money, goods, or in-kind services to establish or maintain technology laboratories in the public schools.
The bill also makes a grant-in-aid appropriation to the Economic Development Alliance of Hawaii (Alliance) to coordinate the marketing of Hawaii's technology companies and opportunities on the mainland. The bill also appropriates funds to the Alliance to expand its Project EAST program to four additional schools on two unspecified islands.
Your Committee finds that the Alliance is a nonprofit umbrella organization for the four county economic development boards. The Alliance estimates that the economic development boards miss as many as one hundred mainland exhibitions and conferences where the Hawaii technology story could be presented. Budget constraints, however, limit local participation at these exhibitions and conferences. This bill remedies this problem by providing the necessary funds to allow the Alliance to coordinate the marketing of Hawaii's technology companies at these exhibitions and conferences.
Your Committee also finds that training a competent technology workforce is critical to the continued success and growth of the local technology industry. This bill provides the funds to achieve this objective by expanding the Project EAST program to four additional schools on two unspecified islands, and by providing a tax credit to encourage private contributions to technology laboratories in public schools.
Your Committee has amended the bill by:
(1) Authorizing, instead of requiring, the Department of Business, Economic Development, and Tourism to issue a certificate showing the amount of the contribution if the taxpayer has obtained a current and valid certificate signed by the director of taxation, showing that the taxpayer does not owe the state any delinquent taxes, penalties, or interest;
(2) Clarifying that the appropriation is a grant, pursuant to chapter 42F, Hawaii Revised Statutes;
(3) Changing the appropriations to unspecified amounts;
(4) Changing the effective date to July 1, 2050 for purposes of discussion; and
(5) Making technical nonsubstantive amendments for clarity and style.
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 S.B. No. 1698, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1698, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
|
____________________________ BRIAN T. TANIGUCHI, Chair |
||