STAND. COM. REP. NO. 1072

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 506

       H.D. 1

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Madam:

 

     Your Committee on Energy and Environment, to which was referred H.B. No. 506, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO ETHANOL,"

 

begs leave to report as follows:

 

     The purpose of this measure is to minimize Hawaii's dependence on fossil fuels.  This measure accomplishes this goal by extending the existing ethanol production facilities tax credit an additional five years to allow more market participants to construct qualifying facilities.

 

     Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism and Alexander & Baldwin, Inc.  The Department of Taxation and the Tax Foundation of Hawaii submitted comments on this measure.

 

     Your Committee finds that Hawaii's future depends on energy independence.  This measure is a step in that direction, protecting consumers from artificially high fuel prices and promoting alternative energy production.

 

     Your Committee amended this measure by changing the effective date from July 1, 2020, to July 1, 2050, to encourage further discussion.

 

     As affirmed by the record of votes of the members of your Committee on Energy and Environment that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 506, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 506, H.D. 1, S.D. 1, and be referred to the Committee on Economic Development and Taxation.

 

Respectfully submitted on behalf of the members of the Committee on Energy and Environment,

 

 

 

____________________________

RON MENOR, Chair