STAND. COM. REP. NO. 761
Honolulu, Hawaii
RE: S.B. No. 1222
S.D. 3
Honorable Colleen Hanabusa
President of the Senate
Twenty-Fourth State Legislature
Regular Session of 2007
State of Hawaii
Madam:
Your Committee on Ways and Means, to which was referred S.B. No. 1222, S.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO INCOME TAXATION,"
begs leave to report as follows:
The purpose of this measure is to clarify that, to obtain the State income tax energy tax credit, all energy technology systems must be installed and placed in service in the State of Hawaii.
Written comments in support of this measure was submitted by the Department of Taxation. Plug Power Inc. and the Tax Foundation of Hawaii submitted written comments.
Your Committee amended this measure by changing the effective date so that the measure will apply prospectively, rather than retroactively to taxable years beginning after December 31, 2006.
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. 1222, S.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1222, S.D. 3.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
|
|
____________________________ ROSALYN H. BAKER, Chair |
|
|
|