STAND. COM. REP. 2822

Honolulu, Hawaii

, 2004

RE: S.B. No. 1206

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1206 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this measure is to provide an aircraft operating lease investment income tax credit for lessees of aircraft with reduced noise levels.

Your Committee finds that the transportation needs of Hawaii's residents and tourists are served by commercial air carriers that provide a frequent and affordable means of intrastate and interstate transportation. Your Committee also finds that Hawaii is currently served by several major air carriers that have made and will continue to make capital investments in their businesses to better serve the public, including providing aircraft with reduced noise levels.

Therefore, it is the intent of this bill to support and encourage such investments by providing appropriate tax credits to improve the commercial air industry in Hawaii.

Your Committee has amended the bill by delaying the effective date until February 23, 2020, for the purpose of continuing discussion on this matter and by making technical changes that have no substantive effect.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1206, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1206, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair