Bill Text: HI HB1705 | 2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Taxation; Potable Water

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-06-29 - (S) Act 184, 6/28/2012 (Gov. Msg. No. 1287). [HB1705 Detail]

Download: Hawaii-2012-HB1705-Amended.html

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STAND. COM. REP. NO.  723-12

 

Honolulu, Hawaii

                , 2012

 

RE:   H.B. No. 1705

      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. 1705 entitled:

 

"A BILL FOR AN ACT RELATING TO TAXATION,"

 

begs leave to report as follows:

 

     The purpose of this measure is to exempt from the state income and general excise taxes, federally tax-exempt section 501(c)(12) privately-owned nonprofit public water systems that supply potable water.

 

     Numerous individuals testified in support of this measure.  The Department of Taxation and Tax Foundation of Hawaii commented on this measure.

 

     Your Committee has amended this measure by:

 

(1)  Clarifying that the exemption from the state income and general excise taxes applies to federally tax-exempt section 501(c)(12) privately-owned nonprofit public water systems that supply potable water to communities that lack any access to public utility water services;

 

(2)  Changing its effective date to July 1, 2030, to encourage continued discussion; and

 

(3)  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. 1705, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1705, H.D. 1, and be placed on the calendar for Third Reading.

 

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

 

 

		____________________________ MARCUS R. OSHIRO, Chair