STAND. COM. REP. 916

Honolulu, Hawaii

, 2003

RE: S.B. No. 855

S.D. 1

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Economic Development and Business Concerns, to which was referred S.B. No. 855, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENERGY,"

begs leave to report as follows:

The purpose of this bill is to encourage the use of renewable energy systems and reduce the State's reliance on fossil fuel by:

(1) Indefinitely extending the Energy Conservation Income Tax Credit provided in section 235-12, Hawaii Revised Statutes (HRS);

(2) Repealing the Energy Conservation Income Tax Credit for heat pumps and ice storage systems; and

(3) Directing the Tax Review Commission to review the renewable energy tax credits provided in section 235-12, HRS, every five years beginning July 1, 2010.

Hawaiian Electric Company, Hawaii Electric Light Company, Maui Electric Company, The Gas Company, Hawaii Solar Energy Association, Powerlight Corporation, R&R Services, Sierra Club, Hawaii Chapter, Life of the Land, and Building Industry Association-Hawaii supported this bill.

The Department of Business, Economic Development, and Tourism and Chamber of Commerce of Hawaii supported the intent of this bill.

The Department of Taxation and Tax Foundation of Hawaii submitted comments.

Your Committee has amended this bill by making a technical, nonsubstantive amendment to conform with drafting conventions.

As affirmed by the record of votes of the members of your Committee on Economic Development and Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 855, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 855, S.D. 1, H.D. 1, and be referred to the Committee on Energy and Environmental Protection.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,

 

____________________________

BRIAN SCHATZ, Chair