STAND. COM. REP. NO. 1877
RE: S.B. No. 994
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Fourth State Legislature
Regular Session of 2007
State of Hawaii
Your Committee on Finance, to which was referred S.B. No. 994, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO SEAWATER AIR CONDITIONING DISTRICT COOLING SYSTEMS,"
begs leave to report as follows:
The purpose of this bill is to lessen Hawaii's dependence on fossil fuels by allowing seawater air conditioning district cooling systems to benefit from the State's enterprise zone program as a qualified business.
The Department of Business, Economic Development, and Tourism, Honolulu Seawater Air Conditioning, LLC, Hawaii Renewable Energy Alliance, Hawaii Energy Policy Forum, Hawaii Science and Technology Council, and KUD International supported this bill. The Department of Taxation supported the intent of this measure. The Tax Foundation of Hawaii submitted comments.
Your Committee has amended this bill by:
(1) Changing the effective date to July 1, 2020, to encourage further discussion;
(2) Inserting a sunset date of December 31, 2010; and
(3) Making technical, nonsubstantive changes for clarity, consistency, 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 S.B. No. 994, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 994, S.D. 1, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
MARCUS R. OSHIRO, Chair