STAND. COM. REP. NO. 1135

Honolulu, Hawaii

, 2005

RE: S.B. No. 1745

S.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 Public Safety & Military Affairs, to which was referred S.B. No. 1745, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO RELIEF FOR MANOA FLOOD VICTIMS,"

begs leave to report as follows:

The purpose of this measure is to provide a tax credit to victims of the Manoa flood of October 2004.

On the eve of Halloween of 2004, heavy rains and flooding caused substantial property damage to residents of Manoa Valley. The flood that is estimated to occur once every fifty years caused Manoa stream to overflow its banks and carry mud, debris, and rushing water into low-lying areas. The flood left residents with the daunting task of cleaning their homes, replacing furnishings, and repairing damage to homes and automobiles.

This bill provides a one-time non-refundable tax credit of up to $2,000 to assist the victims of the Manoa flood. It is the intent of your Committee that the tax credit only apply to residents of Manoa Valley who suffered property damage caused by the late October flood of 2004.

Your Committee received informational testimony from the Department of Taxation and the Legislative Tax Bill Service.

As affirmed by the record of votes of the members of your Committee on Public Safety & Military Affairs that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1745, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Public Safety & Military Affairs,

 

____________________________

KEN ITO, Chair