STAND. COM. REP. NO.  340

 

Honolulu, Hawaii

                , 2017

 

RE:   H.B. No. 230

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Agriculture, to which was referred H.B. No. 230 entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

begs leave to report as follows:

 

     The purpose of this measure is to establish a refundable income tax credit for agricultural businesses that lose income as a result of taking land out of active production to comply with federal food safety requirements, including those contained in the Food Safety Modernization Act.

 

     Your Committee received testimony in support of this measure from the Land Use Research Foundation of Hawaii, Hawaii Farm Bureau, and two individuals.  Your Committee received comments on this measure from the Department of Agriculture, Department of Taxation, and Tax Foundation of Hawaii.

 

     Your Committee has amended this measure by:

 

     (1)  Changing its effective date to July 31, 2150, to encourage further discussion; and

 

     (2)  Making technical nonsubstantive amendments for the purposes of clarity and consistency.

 

     As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 230, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 230, H.D. 1, and be referred to your Committee on Finance.

 

 

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

 

 

 

 

____________________________

RICHARD P. CREAGAN, Chair