STAND. COM. REP. NO. 545

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1496

       S.D. 1

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1496 entitled:

 

"A BILL FOR AN ACT RELATING TO ENTERPRISE ZONES,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to promote the aerospace industry in Hawaii by expanding the state enterprise zones program to include the development and operation of space exploration and lunar research-related activities.

 

     Your Committee received written comments in support of this measure from Richard C. Lim, Department of Business, Economic Development and Tourism.  Written comments on this measure were received from Tax Foundation of Hawaii.

 

     Your Committee finds that aerospace is a strategic and timely growth industry for Hawaii.  The State is currently working to build public-private partnerships and attract substantial international business investments to Hawaii that can help expand and diversify aerospace activities statewide.  The enterprise zones program encourages businesses to relocate to certain areas through tax and other incentives.  By promoting aerospace efforts through the state enterprise zones program, this measure will bring scientific, educational, and commercial benefits to Hawaii residents and establish the State as a global leader in space exploration.

 

     Your Committee has amended this measure by changing its effective date to July 1, 2050, to encourage further discussion.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1496, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1496, S.D. 1.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DAVID Y. IGE, Chair