STAND. COM. REP. NO. 3351

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 2872

       H.D. 3

       S.D. 2

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 2872, H.D. 3, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO AEROSPACE HIGH TECHNOLOGY DISTRICTS,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the Department of Business, Economic Development, and Tourism to designate an aerospace high technology district that encompasses downtown Hilo, within which shall be located an aerospace high technology facility or complex.

 

     Your Committee received written comments in support of this measure from the Hawaii County Council.

 

     Your Committee finds that the development of an aerospace high technology district on the island of Hawaii will create an environment where major aerospace and lunar transportation companies will want to come for research, to test equipment and technologies, and to work collaboratively with the University of Hawaii to engage in clean, high technology research and development.  The development of and investment in the aerospace industry offers great potential for sustainable long-term economic growth that will help bring investment to Hawaii and create high paying, sustainable, high technology jobs.

 

     Your Committee has amended this measure by:

 

     (1)  Incorporating the tax credit and exemptions into the new statutory chapter established by section 2 of the measure instead of amending chapters 235, 237, and 238, Hawaii Revised Statutes;

 

     (2)  Extending the repeal date to June 30, 2022; and

 

     (3)  Making technical nonsubstantive amendments for the purposes of clarity, consistency, and style.

 

     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 H.B. No. 2872, H.D. 3, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2872, H.D. 3, S.D. 2.

 

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

 

 

 

____________________________

DAVID Y. IGE, Chair