HOUSE OF REPRESENTATIVES

THE THIRTY-SECOND LEGISLATURE

REGULAR SESSION OF 2023

 

COMMITTEE ON ECONOMIC DEVELOPMENT

Rep. Daniel Holt, Chair

Rep. Rachele F. Lamosao, Vice Chair

 

Rep. Natalia Hussey-Burdick

Rep. Nadine K. Nakamura

Rep. Sam Satoru Kong

Rep. Sean Quinlan

Rep. Trish La Chica

Rep. Elijah Pierick

 

 

NOTICE OF HEARING

 

DATE:

Wednesday, March 22, 2023

TIME:

9:30 am

PLACE:

VIA VIDEOCONFERENCE

Conference Room 423

State Capitol

415 South Beretania Street

 

 

 

Click here to submit testimony and to testify remotely or in person.

 

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.

 

 

 

A G E N D A

 

SB 924, SD2, HD1

(HSCR1256)

Status

RELATING TO TAXATION.

Eliminates the home mortgage interest deduction for second homes under Hawaii income tax law.  Effective 6/30/3000.  (HD1)

 

HSG, ECD, FIN

SB 597, SD1

(SSCR1001)

Status

RELATING TO TAXATION.

Excludes income received from deferred compensation retirement plans from the state income tax for taxpayers who meet certain income requirements.  Effective 1/1/2050.  (SD1)

 

ECD, FIN

SB 795, SD2

(SSCR660)

Status

RELATING TO TAXES.

Requires productions to provide evidence of reasonable efforts to comply with all applicable requirements to qualify for the motion picture, digital media, and film production income tax credit.  Requires taxpayers be given notice and an opportunity to cure requirements for the motion picture, digital media, and film production income tax credit.  Takes effect 1/6/2050.  (SD2)

 

ECD, FIN

SB 801, SD2

(SSCR923)

Status

RELATING TO QUALIFIED INTERNSHIPS TAX CREDIT.

Establishes a qualified internship income tax credit for employers of qualified interns.  Requires qualified internships to fulfill requirements of the Department of Education and University of Hawaii work-based learning programs.  Provides an application and certification process for claims of credits to be administered by the Department of Labor and Industrial Relations.  Requires reports to the Legislature from the Department of Taxation and Department of Labor and Industrial Relations.  Appropriates funds.  Effective 1/1/2050.  (SD2)

 

ECD, FIN

SB 951, SD2

(SSCR896)

Status

RELATING TO THE TAX CREDIT FOR RESEARCH ACTIVITIES.

Adds a cap for the amount of tax credits for research activities that an eligible taxpayer and the taxpayer's related entities may receive per taxable year.  Consolidates the survey and certification requirements for tax credits for research activities.  Amends the annual aggregate cap on tax credits for research activities that the Department of Business, Economic Development, and Tourism may certify.  Requires certification of the tax credits for research activities on a first-come, first‑served basis to be based on the date that a complete application is received, subject to certain conditions.  Extends from December 31, 2024 to December 31, 2029, the sunset date for tax credits for research activities.  Effective 7/1/2050.  (SD2)

 

ECD, FIN

SB 1296, SD2

(SSCR1008)

Status

RELATING TO DESIGNATED ECONOMIC DEVELOPMENT DISTRICT.

Establishes the Hawaii Economic Development District Planning Organization and board within the Department of Business, Economic Development, and Tourism.  Designates the Office of Planning and Sustainable Development to organize the Hawaii Economic Development District Planning Organization.  Establishes 2 full-time exempt positions.  Makes an appropriation.  Effective 7/1/2050.  (SD2)

 

ECD, FIN

SB 1437, SD1

(SSCR809)

Status

RELATING TO PASS-THROUGH ENTITY TAXATION.

Authorizes certain pass-through entities to elect to pay Hawaii income tax at the entity level.  Effective 7/1/2050.  (SD1)

 

ECD, 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, 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.

 

For remote testifiers, 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 remote testimony.

 

FOR AMENDED NOTICES:  Measures that have been deleted are stricken through and measures that have been added are bolded.

 

For more information, please contact the Committee Clerk at (808) 586-6180

 

 

 

 

 

________________________________________

Rep. Daniel Holt

Chair