STAND. COM. REP. NO.  881-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 3008

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 3008, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO QUALIFIED IMPROVEMENT TAX CREDIT,"

begs leave to report as follows:

     The purpose of this bill is to support community health centers by providing a tax credit for capital improvements made to federally qualified health centers.

     The Hawaii Primary Care Association, Kokua Kalihi Valley, Waianae Coast Comprehensive Health Center, and Waikiki Health Center testified in support of this bill.  The Department of Taxation and Tax Foundation of Hawaii provided comments.

     Your Committee has amended this bill by:

     (1)  Clarifying the provisions related to the amount of the tax credit;

     (2)  Changing the effective date to July 1, 2020, to encourage further discussion; and

     (3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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 H.B. No. 3008, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3008, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair