STAND. COM. REP. NO. 2018

Honolulu, Hawaii

RE: H.B. No. 1533

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1533, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HISTORIC PRESERVATION,"

begs leave to report as follows:

The purpose and intent of this measure is to facilitate the rehabilitation of historic structures in the State.

More specifically, this measure:

(1) Establishes a historic preservation income tax credit; and

(2) Appropriates funds for one temporary position within the State Historic Preservation Division to assist with the establishment and administration of the historic preservation income tax credit program.

Your Committee received written comments in support of this measure from the Department of Land and Natural Resources and Historic Hawaii Foundation.

Your Committee received written comments on this measure from the Department of Taxation.

Your Committee finds that thirty-eight states provide tax credits for the rehabilitation of historic structures. Your Committee also finds that establishing a similar tax credit in Hawaii would promote the comprehensive state historic preservation program established by chapter 6E, Hawaii Revised Statutes.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1533, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair