STAND. COM. REP. NO. 749-04

Honolulu, Hawaii

, 2004

RE: H.B. No. 1848

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1848 entitled:

"A BILL FOR AN ACT RELATING TO EXCEPTIONAL TREES,"

begs leave to report as follows:

The purpose of this bill is to help preserve Hawaii's natural environment by establishing a tax deduction for exceptional trees.

The Department of Planning and Permitting of the City and County of Honolulu, Na Leo Pohai, Sierra Club, Hawaii Chapter, Malama o Manoa, Arbor Global LLC, Kona Outdoor Circle, and several concerned individuals testified in support of this bill. The Department of Taxation opposed the measure. The Tax Foundation of Hawaii submitted comments.

Your Committee notes that the section of the law that this bill proposes to amend deals with income tax exclusions, while this measure proposes a tax deduction.

Your Committee has amended this bill by:

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

(2) Making technical, nonsubstantive amendments for 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. 1848, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1848, H.D. 1.

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

 

____________________________

DWIGHT Y. TAKAMINE, Chair