STAND. COM. REP. NO.  612-12

 

Honolulu, Hawaii

                , 2012

 

RE:   H.B. No. 1758

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Economic Revitalization & Business, to which was referred H.B. No. 1758 entitled:

 

"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT IN HAWAII,"

 

begs leave to report as follows:

 

     The purpose of this measure is to encourage business development in the State by providing enhanced incentives that attract more film and television productions to Hawaii, which will generate increased tax revenues.

 

     The Office of the Mayor of the County of Maui, County of Maui County Council, the Chamber of Commerce of Hawaii, and four individuals provided testimony in support on this measure.  NBC Universal Media, LLC provided testimony in support of the intent of this measure.  The Department of Business, Economic Development, and Tourism opposed this measure.  The Department of Taxation and the Tax Foundation of Hawaii provided comments on this measure.

 

     Your Committee has amended this measure by:

 

     (1)  Deleting its contents and replacing them with language that authorizes the Director of Business, Economic Development, and Tourism to issue revenue bonds for qualified media infrastructure projects; and

                        

     (2)  Changing the effective date of this measure to July 1, 2112, for the purposes of facilitating further discussion.

 

     As affirmed by the record of votes of the members of your Committee on Economic Revitalization & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1758, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1758, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Economic Revitalization & Business,

 

 

 

 

____________________________

ANGUS L.K. McKELVEY, Chair