STAND. COM. REP. NO.  1526

Honolulu, Hawaii

                , 2011

RE:   S.B. No. 1496

      S.D. 1

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 1496, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENTERPRISE ZONES,"

begs leave to report as follows:

     The purpose of this bill is to support the aerospace industry in Hawaii by including the development and operation of space exploration and lunar research related activities within the definition of "eligible business activity" under the State's Enterprise Zone program.

     The Department of Business, Economic Development, and Tourism, University of Hawaii at Hilo, Hawaii Aerospace Advisory Committee, Enterprise Honolulu, Hawaii Academy of Science, Hawaii State Aerospace Advisory Committee, Real World Design Challenge, Mars Institute, the Aerospace States Association, and several concerned individuals supported this bill.  The Department of Taxation and Tax Foundation of Hawaii provided comments.

     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. 1496, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair