STAND. COM. REP. NO.  780

Honolulu, Hawaii

                , 2013

RE:   H.B. No. 473

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 473 entitled:

"A BILL FOR AN ACT RELATING TO THE NATURAL ENERGY LABORATORY OF HAWAII AUTHORITY,"

begs leave to report as follows:

The purpose of this measure is to support the Natural Energy Laboratory of Hawaii Authority in its efforts to attract new projects by extending certain enterprise zone benefits to Natural Energy Laboratory of Hawaii Authority research and technology park businesses and projects in an enterprise zone.

The Natural Energy Laboratory of Hawaii Authority provided testimony in support of this measure.  The Department of Taxation and Tax Foundation of Hawaii provided comments on this measure.

     Your Committee has amended this measure by changing its effective date to July 1, 2030, for the purpose of facilitating further discussion.

     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. 473, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 473, H.D. 1.

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

____________________________

SYLVIA LUKE, Chair