HOUSE OF REPRESENTATIVES

THE TWENTY-THIRD LEGISLATURE

REGULAR SESSION OF 2006

COMMITTEE ON FINANCE

Rep. Dwight Y. Takamine, Chair

Rep. Bertha C. Kawakami, Vice Chair

Rep. Mele Carroll	Rep. Clift Tsuji
Rep. Pono Chong	Rep. Glenn Wakai
Rep. Cindy Evans	Rep. Ryan I. Yamane
Rep. Marilyn B. Lee	Rep. Kyle T. Yamashita
Rep. Michael Y. Magaoay	Rep. Colleen Rose Meyer
Rep. Bob Nakasone	Rep. Mark S. Moses
Rep. Scott Y. Nishimoto	Rep. Kymberly Pine
Rep. Kameo Tanaka	Rep. Anne V. Stevens

NOTICE OF HEARING

DATE:	FRIDAY, FEBRUARY 24, 2006
TIME:	2:00 P.M.
PLACE:	Conference Room 308 State Capitol 415 South Beretania Street

A G E N D A # 4

HB 3235 HD1 (HSCR276-06)	RELATING TO THE STATE OF HAWAII ENDOWMENT FUND. Appropriates funds for the State of Hawaii Endowment Fund, to be matched dollar-for-dollar with private funds.	TAC, FIN
HB 1922 (HSCR81-06)	RELATING TO THE GENERAL EXCISE TAX. Exempts from the general excise tax, amounts received by the operator of the Hawaii Convention Center for reimbursement of costs or advances made under an operating contract with the Hawaii Tourism Authority.	TAC, FIN
HB 1923 HD1 (HSCR512-06)	RELATING TO THE HAWAII TOURISM AUTHORITY. Extends by three years the sunset date of the Hawaii Tourism Authority's ability to retain attorneys independent of the Attorney General. Makes permanent the Hawaii Tourism Authority's exemption from supervision of accounts by the comptroller; the requirement that it preaudit all its proposed payments to determine the propriety of the payments, and to maintain records and documents necessary to support disbursements; the provision that allows interest and revenues derived by the Hawaii Tourism Authority to be deposited into the Convention Center Enterprise Special Fund and Tourism Special Fund; the increase in the amount of the Tourism Special Fund that can be used by the Hawaii Tourism Authority for the executive director's salary; and its authority to appoint a sports coordinator.	TAC, JUD, FIN
HB 3080 (HSCR101-06)	RELATING TO DIGITAL MEDIA. Temporarily replaces the motion picture and film production tax credit with the motion picture, digital media, and film production tax credit which provides an income tax credit amounting to 15% of qualified production costs incurred, in any county of Hawaii with a population over 700,000, and 20% in any county of Hawaii with a population under 700,000; establishes criteria to qualify for the tax credit; caps credit at $8,000,000 per production.	TAC, FIN
HB 2421 HD1 (HSCR114-06)	RELATING TO PERFORMING ARTS BUSINESSES. Establishes a program which allows the state to buy back tax credits from qualified high technology businesses (QHTB) at a deeply discounted rate of 20 percent of the face value of the credits distributed over 5 years. Requires performing arts QHTB that transfer tax credits back to the State to contribute 0.5 percent of their aggregate qualified investments per year to the Hawaii television and film development special fund.	EDB/TAC, FIN

DECISION MAKING TO FOLLOW

PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 45 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) THE COMMITTEE CHAIR IN ROOM 306, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS TESTIMONY DROP OFF BOX IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY ALSO BE FAXED IF LESS THAN 5 PAGES IN LENGTH TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT IS NEEDED FOR SUBMITTAL.

IT IS ALSO REQUESTED THAT THE COPIES BE ON ONE SIDE OF AN 8-1/2" X 11" SHEET. FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE STAFF AT 586-6200.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER, WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE COMMITTEE CLERK AT LEAST 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE.

SELECTED HEARINGS ARE BROADCAST LIVE ON "O`LELO COMMUNITY TELEVISION" (CHANNELS 52, 53, AND 54). CHECK THE CURRENT LEGISLATIVE BROADCAST SCHEDULE THROUGH THEIR WEB SITE AT WWW.CAPITOLTV.ORG FOR A LISTING.

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Rep. Dwight Takamine

Chair