STAND. COM. REP. NO. 723

Honolulu, Hawaii

, 2021

RE: H.B. No. 1273

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1273, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TAX CREDITS,"

begs leave to report as follows:

The purpose of this measure is to require the Department of Business, Economic Development, and Tourism to make a public disclosure identifying the names of taxpayers who are receiving certain tax credits and the total amount of tax credit received for specific economic activities.

Your Committee received testimony in support of this measure from two individuals. Your Committee received comments on this measure from the Department of Taxation; Department of Business, Economic Development and Tourism; and Tax Foundation of Hawaii.

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. 1273, 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