STAND. COM. REP. NO. 1155

Honolulu, Hawaii

, 2023

RE: H.B. No. 947

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 947, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO AGRICULTURE,"

begs leave to report as follows:

The purpose of this measure is to establish a food manufacturer tax credit for food manufacturers that produce value-added products.

Your Committee received testimony in support of this measure from Ulupono Initiative, Hawaii Food Industry Association, Chamber of Commerce Hawaii, Hawaii Food Manufacturers Association, Maui Chamber of Commerce, and one individual. Your Committee received comments on this measure from the Department of Taxation, Department of Agriculture, Hawai‘i Technology Development Corporation, Hawai‘i Farm Bureau, and Tax Foundation of Hawaii.

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. 947, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair