STAND. COM. REP. NO.  801

Honolulu, Hawaii

                , 2011

RE:   H.B. No. 1307

      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 H.B. No. 1307, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

     The purpose of this bill is to stimulate construction activity in Hawaii by establishing a temporary residential construction and remodeling tax credit.

     Hawaii Association of REALTORS, the Building Industry Association of Hawaii, General Contractors Association of Hawaii, Subcontractors Association of Hawaii, and a concerned individual supported this bill.  A concerned individual opposed this bill.  The Department of Taxation, Land Use Research Foundation of Hawaii, and the 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 H.B. No. 1307, 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