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HB185 Page 1 of7 <br /> <br /> ' Rrport Titles: <br /> Enterprise Zones <br /> D~~oriptioa: <br /> Requires State to share with the relevant county a portion of <br /> general excise, use, and income taxes paid by businesses initially <br /> assisted by State and local incentives to allow county to recoup <br /> its initial investment in an enterprise zone. <br /> HOUSE OF REPRESENTATIVES H g N O . 185 <br /> TWENTY-FIRST LEGISLATURE, ' <br /> 2001 <br /> STATE OF HAWAII <br /> A BILL FOR AN ACT <br /> RELATING TO ENTERPRISE ZONES. <br /> BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: <br /> SECTION 1. State law establishes the enterprise zone program. The <br /> program is intended to work as a partnership between the State and <br /> the county within which an enterprise zone is located. A county is <br /> authorized to initiate the designation of up to six enterprise <br /> zones for twenty years. Upon gubernatorial approval of a county- <br /> designated enterprise zone, qualified businesses within the zone <br /> become eligible during their initial years of operation for the <br /> following: <br /> (1) State tax incentives in the form of income tax <br /> credits and general excise and use tax exemptions; <br /> and <br /> (2) "Local incentives" offered by the county, such <br /> http://www.capitol.hawaii.eov/sessionciment/bills/hb185 htm mm~nM1~ <br /> <br />