STAND. COM. REP. NO.  426

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 943

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 943 entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to increase the number of jobs in the Kapolei region by establishing a seven-year Kapolei Jobs Initiative Pilot Program that offers incentives for businesses to establish themselves or open a new location in the Kapolei region, including the establishment of a Kapolei jobs initiative tax credit.

The Pacific Resource Partnership, International Brotherhood of Electrical Workers Local Union 1260, AFL-CIO, West Oahu Economic Development Association, Pat Lee & Associates, LLC, James Campbell Company LLC, Avalon Development Company, Haseko, Land Use Research Foundation of Hawaii, Hawaii Laborers-Employers Cooperation and Education Trust, Hunt Companies, Hawaii Division, Kapolei Chamber of Commerce, and many concerned individuals supported this measure.  The Department of Business, Economic Development and Tourism, and The Chamber of Commerce Hawaii supported the intent of this measure.  The Department of Taxation, Tax Foundation of Hawaii, and two concerned individuals provided comments.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 943 and recommends that it pass Second Reading and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

MARK M. NAKASHIMA, Chair