STAND. COM. REP. NO.  804-12

 

Honolulu, Hawaii

                , 2012

 

RE:   H.B. No. 2314

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 2314 entitled:

 

"A BILL FOR AN ACT RELATING TO THE TRANSIENT ACCOMMODATIONS TAX,"

 

begs leave to report as follows:

 

     The purpose of this measure is to provide for the allocation of Transient Accommodations Tax revenues into the Convention Center Enterprise Special Fund on a fiscal year basis.

 

     The Hawaii Tourism Authority testified in support of this measure.  The Department of Taxation, Department of Budget and Finance, and Tax Foundation of Hawaii commented on this measure.

 

     Your Committee has amended this measure by:

 

(1)  Clarifying the provision that directs the deposit of revenues into the Convention Center Enterprise Special Fund on a fiscal year basis; and

 

(2)  Making technical, nonsubstantive amendments 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 H.B. No. 2314, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2314, H.D. 1.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair