STAND. COM. REP. NO.  445

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 643

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 643 entitled:

"A BILL FOR AN ACT RELATING TO TAXATION,"

begs leave to report as follows:

The purpose of this measure is to create a general excise tax exemption for amounts arising from the sale and installation of a wind restrictive device beginning January 1, 2016, and expiring on December 31, 2017.

The Department of Taxation and Tax Foundation of Hawaii provided comments on this measure.

     Your Committee has amended this measure by:

     (1)  Specifying that the general excise tax exemption shall apply to gross proceeds received on or after January 1, 2016, and on or before December 31, 2017, from the sale and installation of a wind resistive device;

     (2)  Changing its effective date to July 1, 2050, to encourage further 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 Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 643, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 643, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ANGUS L.K. McKELVEY, Chair