STAND. COM. REP. NO. 722

Honolulu, Hawaii

, 2005

RE: H.B. No. 410

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 410, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENERGY,"

begs leave to report as follows:

The purpose of this bill is promote the use of alternative fuels by providing a tax credit against the income, general excise, and fuel tax for qualified expenditures incurred in converting a fuel storage terminal for the importation, storage, and blending of ethanol with gasoline.

Mid Pac Petroleum and Aloha Petroleum, Ltd.,testified in support of this bill. The Department of Taxation testified in opposition to this bill. The Tax Foundation of Hawaii and Western States Petroleum Association submitted 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. 410, H.D. 1, and recommends that it pass Third Reading.

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

 

____________________________

DWIGHT TAKAMINE, Chair