STAND. COM. REP. 524

Honolulu, Hawaii

, 2003

RE: H.B. No. 1569

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Tourism and Culture, to which was referred H.B. No. 1569 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this bill is to establish a motor sports recreation and public safety training and educational facility investment tax credit for investments made by a taxpayer in the motor sports recreation and public safety training and educational facility on parcel 9 at Kalaeloa (Facility).

Hawaii Motorsports Center and two concerned citizens supported this bill. The Department of Taxation and Tax Foundation of Hawaii offered comments.

Your Committee notes that the incentives provided by this measure in developing the Facility will help stimulate commercial activity in west Oahu. In addition, this bill may increase safety on public highways, as the Facility provides a safer, more controlled environment for racing enthusiasts.

As affirmed by the record of votes of the members of your Committee on Tourism and Culture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1569 and recommends that it be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Tourism and Culture,

 

____________________________

JERRY L. CHANG, Chair