THE SENATE	S.B. NO.	2986
TWENTY-SIXTH LEGISLATURE, 2012
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAXATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Act 103, Session Laws of Hawaii 2007, as amended by Act 198, Session Laws of Hawaii 2009, is amended by amending section 5 to read as follows:

     "SECTION 5.  This Act shall take effect upon its approval[; provided that:

(1) The amendments made to this Act to:

(A) The definition of "power-generating facility" in section 243-1, Hawaii Revised Statutes; and

(B) Section 243-4(a), Hawaii Revised Statutes,

shall be repealed on December 31, 2012, and section 243-4(a), Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day before the effective date of this Act; and

(2) The rate of tax for naphtha as provided for in section 243-4(a)(3), Hawaii Revised Statutes, shall be effective retroactively and apply to any imposition of the fuel tax on naphtha sold for use in a power-generating facility]."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.

     SECTION 3.  This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Power Generation; Naphtha Fuel Tax; Sunset; Repeal

Description:

Repeals the sunset provision relating to the tax on naphtha fuel sold for use in a power-generating facility.

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