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.B. NO. <br /> A BILL FOR AN ACT <br /> RELATING TO THE PUBLIC SERVICE COMPANY TAX. <br /> BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: <br /> 1 SECTION 1. The purpose of this Act is to effectuate an <br /> 2 agreement entered into by and among the State of Hawaii, the <br /> 3 city & county of Honolulu, the county of Maui, the county of <br /> 4 Kauai, the county of Hawaii, and a number of public service <br /> S companies by providing for a sharing of the public service <br /> 6 company tax revenues with those counties that establish by <br /> 7 ordinance an exemption from real property tax for public service <br /> S compan>.ea. Although no party to the agreement has made any <br /> 9 admissions with respect to issues involved in the pending <br /> <br /> 10 litigation, one of the purposes of this Act is to clarify the <br /> 11 tax imposed by section 239-5(a), Hawaii Revised Statutes, as a <br /> 12 lawful exercise of the State's taxing authority, >.n accordance <br /> 13 with Article VIII, sections 3 and 6 of the Hawaii Constitution. <br /> 14 SECTION 2. Section 239-4, Hawaii Revised Statutes, ie <br /> 15 amended to read as follows: <br /> 16 "§239-4 Raturas. Each public service company, on or before <br /> 17 the twentieth day of the fourth month following the close of the <br /> IS taxable year, shall file with the office of the department of <br /> Exhibit A <br /> TAX-14 (01) <br /> p1ANHONO 339114 1 <br /> <br />