STAND. COM. REP. NO. 1173

Honolulu, Hawaii

, 2023

RE: H.B. No. 1384

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1384, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO MANUFACTURING,"

begs leave to report as follows:

The purpose of this measure is to establish an income tax credit to incentivize the development of the food manufacturing industry in Hawaii.

Your Committee received testimony in support of this measure from the Hawai‘i Farm Bureau, Ulupono Initiative, Chamber of Commerce Hawaii, and Hawaii Food Manufacturers Association. Your Committee received comments on this measure from the Department of Taxation, Department of Agriculture, Hawai‘i Technology Development Corporation, 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. 1384, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair