STAND. COM. REP. NO.772

Honolulu, Hawaii

, 2001

RE: H.B. No. 1685

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1685 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this bill is to exempt from the general excise tax (GET), amounts received as rent for the rental or leasing of aircraft or aircraft engines used for interstate transportation of passengers and goods.

The Tax Foundation submitted comments on this bill.

Your Committee has amended this bill by:

(1) Changing the effective date to July 1, 2010; and

(2) Making technical, nonsubstantive changes for purposes of clarity and style.

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. 1685, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1685, H.D. 1.

 

 

 

 

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

____________________________

DWIGHT Y. TAKAMINE, Chair