HOUSE OF REPRESENTATIVES

THE THIRTY-FIRST LEGISLATURE

REGULAR SESSION OF 2021

 

COMMITTEE ON FINANCE

Rep. Sylvia Luke, Chair

Rep. Ty J.K. Cullen, Vice Chair

 

Rep. Patrick Pihana Branco

Rep. Amy A. Perruso

Rep. Stacelynn K.M. Eli

Rep. Jackson D. Sayama

Rep. Daniel Holt

Rep. Adrian K. Tam

Rep. Greggor Ilagan

Rep. Tina Wildberger

Rep. Bertrand Kobayashi

Rep. Kyle T. Yamashita

Rep. Lisa Marten

Rep. Bob McDermott

Rep. Scott Y. Nishimoto

 

 

 

NOTICE OF HEARING

 

DATE:

Thursday, February 25, 2021

TIME:

12:00 p.m.

PLACE:

VIA VIDEOCONFERENCE

Conference Room 308

State Capitol

415 South Beretania Street

 

 

 

THE STATE CAPITOL IS CLOSED TO THE PUBLIC DURING THE ONGOING COVID-19 PANDEMIC

Please note that the committee members will participate remotely via videoconference.

Click here to submit testimony and to testify remotely.

 

A live stream link of all House Standing Committee meetings will be available online

shortly before the scheduled start time.

 

Click here for the live stream of this meeting via YouTube.

Click here for select hearings broadcast live on ‘Ōlelo Community Media for cable TV.

 

 

 

A G E N D A #2

 

HB 468, HD1

(HSCR409)

Status

RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND.

Removes medicare part B reimbursement for spouses of employee‑beneficiaries hired on or after 7/1/2021.  Effective 12/25/2040.  (HD1)

 

LAT, FIN

HB 670, HD1

(HSCR397)

Status

RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM.

Authorizes forfeiture of certain ERS benefits, pursuant to court order, for state or county employees and designated beneficiaries who are convicted of an employment-related felony.  (HD1)

 

LAT, JHA, FIN

HB 321, HD1

(HSCR116)

Status

RELATING TO TRANSIENT ACCOMMODATIONS TAX.

Repeals the allocation of excess transient accommodations tax revenues to the Turtle Bay conservation easement special fund, for development and implementation of initiatives to take advantage of expanded visa programs and increased travel opportunities for international visitors to Hawaii, for the operation of a Hawaiian center and the museum of Hawaiian music and dance, to the tourism special fund for a safety and security budget, to the counties, and to the special land and development fund.  Makes the allocations to the convention center enterprise special fund and tourism special fund unspecified amounts.

 

LAT, FIN

HB 131, HD1

(HSCR482)

Status

RELATING TO TAX CREDITS.

Increases the amount of the tax credit for individuals and households and the adjusted gross income eligibility cap for the income tax credit for low-income household renters using tax brackets for individuals and different categories of households.  Provides for inflation increases every three years based on the consumer price index.  Applicable to taxable years beginning after 12/31/2020.  Effective 7/1/2050.  (HD1)

 

HSG, FIN

HB 606, HD1

(HSCR449)

Status

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR AFFORDABLE HOUSING.

Authorizes the issuance of general obligation bonds with the funds to be deposited into the dwelling unit revolving fund and the rental housing revolving fund.  Effective 7/1/2050.  (HD1)

 

HSG, FIN

HB 1132, HD1

(HSCR483)

Status

RELATING TO HOUSING.

Authorizes the issuance of general obligation bonds to be appropriated into and out of the rental housing revolving fund for construction of phase I of a senior affordable housing project on Hawaii public housing authority property on School street, Oahu.  Effective 7/1/2050.  (HD1)

 

HSG, FIN

HB 79, HD1

(HSCR487)

Status

RELATING TO HOUSING.

Establishes an affordable homeownership revolving fund within HHFDC to provide loans to nonprofit community development financial institutions and nonprofit housing development organizations for the development of affordable homeownership housing projects.  Authorizes the transfer of taxable general obligation bond proceeds and accrued interest from the rental housing revolving fund to the affordable homeownership revolving fund.  Appropriates funds out of the affordable homeownership revolving fund.  Effective 7/1/2050.  (HD1)

 

HSG, FIN

HB 907, HD1

(HSCR263)

Status

RELATING TO HOUSING.

Repeals the Hawaii housing finance and development corporation's downpayment loan assistance program and homebuyers' club program.  Effective 7/1/2050.  (HD1)

 

HSG, FIN

HB 1311, HD2

(HSCR618)

Status

RELATING TO AFFORDABLE HOUSING.

Removes the construction completion deadline for the Leialii affordable housing project.  Allows HHFDC to address historic preservation laws when funding is appropriated for each portion of the Leialii affordable housing project.  Effective 7/1/2050.  (HD2)

 

HSG, JHA, FIN

HB 77, HD1

(HSCR431)

Status

RELATING TO LANDS CONTROLLED BY THE STATE.

Exempts the sale of the leased fee interest in certain affordable leasehold developments by the HHFDC from legislative approval.  Effective 7/1/2050.  (HD1)

 

HSG, WAL, FIN

HB 1271

(HSCR554)

Status

RELATING TO THE AGRIBUSINESS DEVELOPMENT CORPORATION.

Dissolves the agribusiness development corporation and transfers all lands and staff, except for the executive director, to the department of agriculture.

 

AGR, FIN

HB 531, HD2

(HSCR552)

Status

RELATING TO AGRICULTURAL LANDS.

Requires a state contract for the purchase of produce to include an option for the contractor supplying the produce to lease of state agricultural lands.  Establishes a process for the college of tropical agriculture and human resources of the university of Hawaii to identify appropriate land to be leased.  Effective 7/1/3000.  (HD2)

 

GVR, AGR, FIN

HB 526, HD1

(HSCR396)

Status

RELATING TO PROCUREMENT.

Requires the past performance of contractors' positive, negative, or lack of previous experience to be considered in bid selection of a contractor.  Requires departments to consider available assessments of previous performance on relevant and recent government and private contracts when making contract awards.  Appropriates funds.  Effective 7/1/2112.  (HD1)

 

GVR, JHA, FIN

HB 286, HD1

(HSCR501)

Status

RELATING TO REAL ESTATE INVESTMENT TRUSTS.

Authorizes the department of taxation to require real estate investment trusts to notify the department of its presence within the State and to report the assets and revenues generated annually.  Effective 7/1/2050.  (HD1)

 

ECD, CPC, FIN

HB 133, HD1

(HSCR523)

Status

RELATING TO CAPITAL GAINS.

Increases the capital gains tax threshold from 7.25 per cent to nine per cent.  Applies for tax years beginning after 12/31/2020.  Effective 7/1/2050.  (HD1)

 

ECD, FIN

HB 1273, HD1

(HSCR439)

Status

RELATING TO TAX CREDITS.

Requires the Department of Business, Economic Development, and Tourism to make a public disclosure identifying the names of the taxpayers who are receiving certain tax credits and the total amount of tax credit received for specific economic activities.  Effective 7/1/2050.  (HD1)

 

ECD, FIN

HB 1174, HD1

(HSCR143)

Status

RELATING TO TAXATION.

Amends the motion picture, digital media, and film production income tax credit by:  (1) Reducing the cap amount and aggregate cap amount of the credit;  (2) Establishing a maximum amount of above-the-line costs that may be used to claim the credit;  (3) Reducing the minimum amount of qualified productions costs needed to claim the credit;  (4) Requiring qualified production costs to be incurred through a qualified vendor; and  (5) Requiring at least seventy-five per cent of a qualified production to be filmed in the State if the taxpayer claims a credit in excess of $5,000,000 in a single taxable year.  Defines "above-the-line costs" and "qualified vendor".  Extends the repeal date of the tax credit from 1/1/2026 to 1/1/2033.  Effective 7/1/2050.  (HD1)

 

ECD, FIN

HB 507, HD1

(HSCR144)

Status

RELATING TO MEDIA.

Requires the department of business, economic development, and tourism to fix the payment of royalties to the State for the filming of scenic shots of iconic locations in the State that are subsequently featured in media for production purposes.  Exempts state and county productions.  Effective 7/1/2050.  (HD1)

 

ECD, FIN

HB 1314, HD1

(HSCR584)

Status

RELATING TO TAXATION.

Authorizes each county to levy a county surcharge on transient accommodations tax if the county satisfies certain real property tax requirements.  Repeals the allocation of transient accommodations tax revenue to the counties and makes conforming amendments.  Establishes a residential property owner tax credit and a residential circuit breaker tax credit.  Beginning with taxable years after 12/31/2021, gradually implements new individual income tax and corporation income tax brackets and rates in three-year intervals.  Effective 7/1/2050.  (HD1)

 

ECD, JHA, FIN

HB 1191, HD2

(HSCR376)

Status

RELATING TO BROADBAND SERVICE INFRASTRUCTURE.

Establishes the broadband infrastructure grant program to award grants to applicants to extend deployment of infrastructure used to provide broadband service to unserved areas of the State.  Amends the Hawaii technology loan revolving fund to change it to the Hawaii broadband infrastructure fund, including the types of funds deposited into the fund.  Authorizes the issuance of general obligation bonds for the broadband infrastructure grant program.  Effective 7/1/2050.  (HD2)

 

ECD, CPC, FIN

 

 

 

 

DECISION MAKING TO FOLLOW

 

Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing.  Testimony received after this time will be stamped late and left to the discretion of the chair to consider.  While every effort will be made to incorporate all testimony received, materials received on the day of the hearing or improperly identified or directed, may not be processed.

 

Testimony submitted will be placed on the legislative website.  This public posting of testimony on the website should be considered when including personal information in your testimony.

 

The chair may institute a per-testifier time limit.

 

Committees meeting in the morning must adjourn prior to the day's Floor Session.  Therefore, due to time constraints, not all testifiers may be provided an opportunity to offer verbal comments.  However, remote testitfiers' written submissions will be considered by the committee.

 

Please refrain from profanity or uncivil behavior.  Violations may result in ejection from the hearing without the ability to rejoin.

 

The House will not be responsible for bad connections on the testifier's end.

 

For general help navigating the committee hearing process, please contact the Public Access Room at (808) 587-0478 or [email protected].

 

The cable TV broadcast and/or live stream of this meeting will include closed captioning.  If you require other auxiliary aids or services to participate in the public hearing process (i.e. interpretive services (oral or written) or ASL interpreter) or are unable to submit testimony via the website due to a disability, please contact the committee clerk at least 24 hours prior to the hearing so that arrangements can be made.

 

Click here for a complete list of House Guidelines for public testimony.

 

 

For more information, please contact the Committee Clerk at 586-6200

 

 

 

 

 

 

________________________________________

Rep. Sylvia Luke

Chair