STAND. COM. REP. NO 2960
Honolulu, Hawaii
RE: H.B. No. 2170
H.D. 2
S.D. 1
Honorable Donna Mercado Kim
President of the Senate
Twenty-Seventh State Legislature
Regular Session of 2014
State of Hawaii
Madam:
Your Committee on Tourism, to which was referred H.B. No. 2170, H.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO TAXATION,"
begs leave to report as follows:
The purpose and intent of this measure is to provide an income tax credit for costs incurred for new hotel construction.
Your Committee received testimony in support of this measure from the Hawaii Tourism Authority, Chamber of Commerce Hawaii, Wyndham Vacation Ownership, Hawaii Regional Council on Carpenters, and UNITE HERE Local 5. Your Committee received comments on this measure from the Department of Taxation and Hawaii Tax Foundation.
Your Committee finds that one of the keys to promoting Hawaii as a visitor destination is the improvement and enhancement of the tourism product, which includes physical infrastructure. This measure provides the private sector with investment incentives to improve hotel facilities. Your Committee further finds that more hotel construction will provide an immediate boost to the economy, while also investing in Hawaii's future economy by securing long-term revenue from the tourism industry.
Your Committee has amended this measure by:
(1) Inserting a purpose section; and
(2) Making technical, nonsubstantive amendments for the purposes of clarity and consistency.
As affirmed by the record of votes of the members of your Committee on Tourism that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2170, H.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2170, H.D. 2, S.D. 1, and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Tourism,
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____________________________ GILBERT KAHELE, Chair |
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