CONFERENCE COMMITTEE REP. NO. 20

 

Honolulu, Hawaii

                 , 2015

 

RE:    S.B. No. 971

       S.D. 1

       H.D. 1

       C.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Madam and Sir:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 971, S.D. 1, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose of this measure is to ensure that certain eligible rental housing projects will remain affordable for certain minimum periods in order to be certified for exemption from general excise taxes.

 

     Your Committee on Conference finds that encouraging private sector investment and construction of rental housing for Hawaii's families is critical.  By setting minimum affordability terms for rental housing projects, this measure will ensure that any improvements to a rental housing project that is exempt from the general excise tax will accrue to the benefit of lower income households for a period commensurate with the extent of the improvements.

 

     Your Committee on Conference has amended this measure by:

 

     (1)  Specifying that this measure shall apply to projects with an initial certification date after June 30, 2015; and

 

     (2)  Inserting an effective date of July 1, 2015.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 971, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 971, S.D. 1, H.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

 

ON THE PART OF THE SENATE

 

____________________________

MARK J. HASHEM, Co-Chair

 

____________________________

SUZANNE CHUN OAKLAND, Chair

____________________________

BERTRAND KOBAYASHI, Co-Chair

 

____________________________

GIL RIVIERE, Co-Chair