STAND.
COM. REP. NO. 852
Honolulu, Hawaii
, 2019
RE: H.B. No. 1533
H.D. 1
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirtieth State Legislature
Regular Session of 2019
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 1533, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO HISTORIC PRESERVATION,"
begs leave to report as follows:
The purpose of this measure is to:
(1) Establish a historic preservation tax credit for qualified construction expenses incurred in the rehabilitation of income-producing historic structures, with an enhanced tax credit for rehabilitation projects that provide affordable housing units; and
(2) Appropriate funds to the Department of Land and Natural Resources for one full-time equivalent temporary position in the State Historic Preservation Division to assist in the administration of the tax credit.
The Land Use Research Foundation and O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i submitted testimony in support of the measure. The Department of Land and Natural Resources, Department of Taxation, and Tax Foundation of Hawaii submitted testimony providing comments.
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. 1533, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
|
|
____________________________ SYLVIA LUKE, Chair |
|
|
|