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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: March 16, 2021 Re: Comm. No. 152/Bill No. 27 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 9:03 a.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawai`i 96720 <br /> Your Committee on Finance,to which was referred Bill No. 27, reports as follows: <br /> Bill No. 27, transmitted by Council Member Aaron Chung, via Communication No. 152 dated <br /> March 1, 2021, amends Chapter 19, Article 7, Section 19-53, and repeals Chapter 19, Article 7, <br /> Section 19-58.1 and Section 19-58.2 of the Hawai`i County Code 1983 (2016 Edition, as amended), <br /> relating to the Nonspeculative Residential Use Real Property Tax Dedication. <br /> The Nonspeculative Residential Use Tax Dedication program would be repealed effective July 1, 2021. <br /> Council Member Chung provided a brief description of Bill 27,the Nonspeculative Residential Use <br /> Program, and stated and that the bill came forward via recommendation from the Real Property Tax <br /> Working Group. Real Property Tax Administrator Lisa Miura provided a brief background on the <br /> Nonspeculative Residential Use Program. Also present to provide information was Keita Jo,Assistant <br /> Real Property Tax Administrator. <br /> Ms. Miura and Mr. Jo offered that in some cases this program has been beneficial but for others has <br /> caused financial hardship. The 459 property owners who remain in the program would be notified by <br /> mail, of which 330 properties are due to renew dedication into the program this year. Ms. Miura stated <br /> those utilizing the program now who choose to leave the program could potentially be affected <br /> negatively, especially if they just entered the program. The overall effect on the County would be a loss <br /> in Real Property Tax Revenue of approximately $70,000. <br /> Ms. Kimball, Mr. Kaneali'i-Kleinfelder, and Ms. Lee Loy briefly commented on the bill. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 27, and recommends its <br /> passage on first reading. <br /> scc <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID x COMMITTEE ON FINANCE <br /> INABA X <br /> KANEALI`I-KLEINFELDER X r _ a <br /> KIERKIEWICZ X <br /> KIMBALL x MATT KANEALI` r,INFELDER, CHAIR <br /> LEE LOY X <br /> RICHARDS X FC REPORT NO.: 27 <br /> 2021 <br /> VILLEGAS X ADOPTED: AOR <br />