STAND. COM. REP. NO. 397

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 910

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Economic Development, Tourism, and Technology, to which was referred S.B. No. 910 entitled:

 

"A BILL FOR AN ACT RELATING TO RENEWABLE FUELS TAX CREDIT,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to replace the Department of Business, Economic Development, and Tourism's requirements associated with the certification, administration, and verification of the renewable fuels production tax credit with a survey of the renewable fuels production tax credit.

 

     Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism; Department of Taxation; Tax Foundation of Hawaii; and one individual.

 

     Your Committee finds that the Department of Business, Economic Development, and Tourism lacks the resources and expertise required to effectively conduct the certification, verification, and administration requirements of the renewable fuels production tax credit.  Your Committee further finds that this measure will align the department's existing resources and expertise with statutory requirements while still providing collection data about the tax credit's effectiveness.

 

     Your Committee has amended this measure by:

 

     (1)  Specifying that taxpayers claiming the credit are required to pay for any costs related to obtaining the certification; 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 Economic Development, Tourism, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 910, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 910, S.D. 1, and be referred to your Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Economic Development, Tourism, and Technology,

 

 

 

________________________________

GLENN WAKAI, Chair