STAND. COM. REP. NO.  859

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 1469

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1469 entitled:

"A BILL FOR AN ACT RELATING TO DISPOSITION OF TAX REVENUES,"

begs leave to report as follows:

The purpose of this measure is to clarify conveyance tax revenue distribution by setting maximum amounts to be distributed to various non-general funds.  

The Department of Land and Natural Resources, Hawaii Housing Finance and Development Corporation, PHOCUSED, Hawaii Appleseed Center for Law and Economic Justice, Catholic Charities Hawaii, Faith Action for Community Equity, Alii Pauahi Hawaiian Civic Club, The Nature Conservancy, and an individual provided testimony in opposition to the measure.  Tax Foundation of Hawaii provided comments.

     Your Committee has amended this measure:

     (1)  To leave unspecified, for purposes of further discussion, the maximum dollar amounts of tax revenues designated for distribution to certain non-general funds; and

     (2)  By 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. 1469, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1469, H.D. 1.

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

____________________________

SYLVIA LUKE, Chair