HOUSE OF REPRESENTATIVES

THE TWENTY-SECOND LEGISLATURE

REGULAR SESSION OF 2003

COMMITTEE ON ECONOMIC DEVELOPMENT AND BUSINESS CONCERNS

Rep. Brian Schatz, Chair

Rep. Glenn Wakai, Vice Chair

Rep. Felipe P. Abinsay, Jr.

Rep. Alex M. Sonson

Rep. Jerry L. Chang

Rep. Tulsi Gabbard Tamayo

Rep. Robert N. Herkes

Rep. Mark G. Jernigan

Rep. Jon Riki Karamatsu

Rep. Bertha F.K. Leong

Rep. Michael Y. Magaoay

Rep. Barbara Marumoto

Rep. Blake K. Oshiro

Rep. Guy P. Ontai

NOTICE OF HEARING

DATE:

January 30, 2003

TIME:

8:30 a.m.

PLACE:

Conference Room 325

State Capitol

415 South Beretania Street

A G E N D A

HB 21

RELATING TO CORPORATE DISCLOSURE.

Requires: (1) department of taxation to report on tax benefits for development assistance programs; (2) counties to disclose real property tax reductions and abatements; (3) disclosure of development assistance; (4) recapture of assistance from recipients who fail to achieve jobs, wage, and benefit goals.

EDB, LAB, FIN

     

HB 131

RELATING TO TAXATION.

Provides for a state earned income tax credit.

EDB, FIN

     

HB 152

RELATING TO TAXATION.

Establishes an income tax credit for revitalization of older commercial facilities, including retail, hotel, warehouse, and industrial facilities; provided that either the facility or the commercial district where the facility is located is at least twenty-five years old; projects over $2,500,000 required to pay prevailing wages under chapter 104, Hawaii Revised Statutes.

EDB, FIN

     

HB 521

RELATING TO AN ANNUAL GENERAL EXCISE TAX HOLIDAY.

Establishes an annual general excise tax holiday for consumers and businesses that sell goods with a retail price under $100 on condition that businesses pass the savings on to consumers.

EDB, FIN

     

HB 643

RELATING TO GENERAL EXCISE TAX.

Exempts contractors from the general excise tax for commercial construction or improvement.

EDB, FIN

     

HB 650

RELATING TO TAXATION.

Establishes an investment and improvements income tax credit for qualifying small businesses.

EDB, FIN

     

HB 719

RELATING TO TAXATION.

Exempts amounts received as grants in the form of reimbursements for expenditures from an economic development program sponsored by a federal, state, county, or nonprofit organization from imposition of the general escise tax. Applies to amounts received after December 31, 1999, and allows any credits to be applied to the taxpayer's general excise tax liability in subsequent years until exhausted.

EDB, FIN

     

HB 1066

RELATING TO THE TELEVISION INDUSTRY AND ECONOMIC DEVELOPMENT.

Establishes a tax credit to assist qualifying local television producers in attracting advertisers.

EDB, FIN

     

HB 1353

RELATING TO INCOME TAX CREDITS.

Allows income tax credit for qualified commercial construction projects of four percent for projects costs up to $10 million, and ten per cent for project costs exceeding $10 million over a consecutive five-year period.

EDB, FIN

     

HB 1394

RELATING TO TAXATION TO STIMULATE THE ECONOMY.

Provides a tax credit for large-scale construction projects.

EDB, FIN

 

DECISION MAKING TO FOLLOW

PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 35 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) THE COMMITTEE'S VICE CHAIR IN ROOM 316, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS TESTIMONY DROP BOX IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY BE FAXED TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT ARE NEEDED FOR SUBMITTAL.

IT IS ALSO REQUESTED THAT THE COPIES BE ON ONE SIDE OF AN 8-1/2" X 11" SHEET WITH TWO HOLES PUNCHED AT THE TOP. FOR FURTHER INFORMATION, PLEASE CALL THE EDB COMMITTEE CLERK AT 586-6356.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER, WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE COMMITTEE CLERK AT LEAST 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE.

 

________________________________________

Rep. Brian Schatz

Chair