STAND. COM. REP. NO.  433

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 1044

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committees on Economic Development & Business and Energy & Environmental Protection, to which was referred H.B. No. 1044 entitled:

"A BILL FOR AN ACT RELATING TO RENEWABLE FUELS TAX CREDIT,"

beg leave to report as follows:

The purpose of this measure is to replace the Department of Business, Economic Development, and Tourism's reporting requirement relating to the certification, administration, and verification of the renewable fuels production tax credit, with a survey that requires the taxpayer to provide specified information.

The Department of Business, Economic Development, and Tourism supported this bill.  The Department of Taxation and Tax Foundation of Hawaii submitted comments.

     As affirmed by the records of votes of the members of your Committees on Economic Development & Business and Energy & Environmental Protection that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 1044 and recommend that it pass Second Reading and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committees on Economic Development & Business and Energy & Environmental Protection,

____________________________ CHRIS LEE, Chair

____________________________ MARK M. NAKASHIMA, Chair