THE SENATE	S.B. NO.	2986
TWENTY-SIXTH LEGISLATURE, 2012		S.D. 1
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          shall be repealed on December 31, [2012,] 2017, and section 243-4(a), Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day before the effective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  Statutory material to be repealed is bracketed and stricken.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.

Report Title:

Power Generation; Naphtha Fuel Tax; Sunset; Extension

Description:

Extends the sunset provision relating to the tax on naphtha fuel sold for use in a power-generating facility from 12/31/2012 to 12/31/2017.  (SD1)

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