STAND. COM. REP. NO. 1623

Honolulu, Hawaii

, 2005

RE: S.B. No. 1114

S.D. 1

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1114, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO AN ENERGY STORAGE SYSTEM TAX CREDIT,"

begs leave to report as follows:

The purpose of this bill is to promote energy-efficiency by establishing a tax credit for eligible energy storage systems installed after December 31, 2004, upon meeting certain conditions.

Kamehameha Schools, Maryknoll School, Iolani School, Hawaii Association of Independent Schools, Plumbing & Mechanical Contractors Association of Hawaii, Building Industry Association-Hawaii, Hawaiian Electric Company, Hawaii Electric Light Company, Maui Electric Company, Off-Peak/Elite Energy Group, LCC, and a concerned individual testified in support of this bill. The Department of Business, Economic Development, and Tourism supported the intent of this measure. The Department of Taxation and Tax Foundation of Hawaii provided comments.

Your Committee finds that although the use of alternative energy technologies moves the State towards a more sustainable future, the primary focus of any energy policy of the State should be to lessen its dependence upon fossil fuel consumption.

 

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 S.B. No. 1114, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

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

 

____________________________

DWIGHT TAKAMINE, Chair