Report Title:

Enterprise Zone; East Maui

 

Description:

Extends general excise tax exemption of enterprise zone to retailers in East Maui until June 30, 2007.

THE SENATE

S.B. NO.

2533

TWENTY-FIRST LEGISLATURE, 2002

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to enterprise zones.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that retailers of East Maui are under economic hardship and would benefit from the enterprise zone law.

The purpose of this Act is to extend enterprise zone benefits to retailers in the East Maui enterprise zone. This extension is a five-year pilot and if it successfully generates economic activity, the legislature intends to expand it.

SECTION 2. Section 209E-2, Hawaii Revised Statutes, is amended by amending the definition of "qualified business" to read as follows:

""Qualified business" means any corporation, partnership, or sole proprietorship authorized to do business in the State that is qualified under section 209E-9, subject to the state corporate or individual income tax under chapter 235, and [[]is[]]:

(1) Engaged in manufacturing, the wholesale sale of tangible personal property as defined in section 237-4, or a service business as defined in this chapter;

(2) Engaged in producing agricultural products where the business is a producer as defined in section 237-5;

(3) Engaged in research, development, sale, or production of all types of genetically-engineered medical, agricultural, or maritime biotechnology products; [or]

(4) Engaged in producing electric power from wind energy for sale primarily to a public utility company for resale to the public; or

(5) Engaged in retail sales in the east Maui enterprise zone."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect on July 1, 2002, and shall be repealed on June 30, 2007; provided that section 209E-2, Hawaii Revised Statutes, is reenacted in the form in which it read on June 30, 2002.

INTRODUCED BY:

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