STAND. COM. REP. NO.  850-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2312

      H.D. 2

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2312, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ENVIRONMENTAL RESPONSE, ENERGY, AND FOOD SECURITY TAX,"

begs leave to report as follows:

The purpose of this measure is to increase the five cents portion of the barrel tax for the Environmental Response, Energy, and Food Security Tax that is deposited into the Environmental Response Revolving Fund to support emergency oil spill response, chemical leakage response, hazardous environmental disaster response, and environmental clean ups.

The Department of Health and The Nature Conservancy testified in support of this measure.  The Tax Foundation of Hawaii commented on this measure.

     Your Committee has amended this measure by:

     (1)  Changing the effective date to July 1, 2030, to encourage further discussion; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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. 2312, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2312, H.D. 2.

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

____________________________

SYLVIA LUKE, Chair