STAND. COM. REP. NO.  804-18

Honolulu, Hawaii

                , 2018

RE:   H.B. No. 2659

      H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2659, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to stimulate economic development and job growth on the western portion of the island of Oahu by establishing the Kapolei Jobs Initiative Pilot Program to provide an income tax credit as an incentive for businesses to establish or open new locations in the Kapolei region of Oahu.

The Kapolei Chamber of Commerce, The Queen's Health Systems, Ho‘omanapono Political Action Committee, Hunt Companies, Hawaii Division, Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii, Pacific Resource Partnership, National Kidney Foundation of Hawaii, Palehua Townhouse Association, legalHI, Coral Crater LLC, Urgent Care Hawaii, James Campbell Company LLC, and five concerned individuals supported this measure.  The Department of Business, Economic Development and Tourism, Department of Taxation, Tax Foundation of Hawaii, and The Chamber of Commerce Hawaii provided comments.

     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. 2659, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair