STAND. COM. REP. NO. 1075-14
Honolulu, Hawaii
, 2014
RE: S.B. No. 2968
S.D. 2
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2014
State of Hawaii
Sir:
Your Committee on Tourism, to which was referred S.B. No. 2968, S.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO TOURISM STIMULUS INITIATIVES,"
begs leave to report as follows:
The purpose of this measure is to stimulate new jobs, create and maintain facilities that attract tourists, and keep Hawaii's principal industry competitive in the global tourism market by establishing a temporary income tax credit for qualified hotel construction and renovation.
Your Committee has amended this measure by making technical, nonsubstantive amendments for clarity, consistency, and style.
Your Committee finds that this measure warrants further discussion as it moves through the legislative process. Your Committee respectfully requests that the Committee on Finance, should it consider this measure, investigate whether the requirement of compliance with all laws, rules, and regulations is administrable and whether amendments are necessary to prevent a double benefit (deduction plus credit) and ensure reliable linkage of the credit to real property improvements. Finally, your Committee finds that prioritizing credits for job-intensive hotel and resort properties over those for other types of properties merits further discussion.
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 S.B. No. 2968, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2968, S.D. 2, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Tourism,
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____________________________ TOM BROWER, Chair |
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