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REPORT OF THE, <br />COMMITTEE, ON FINANCE. <br />DA"h F.: May 20, 20113 <br />PLACE.: Council Chambers <br />'DIME: 9:35 a.m. <br />Rc: Comm. '~o. 33 UBill No. 101 <br />Council Chair and Members <br />Hawaii County Council <br />llilo. Hawaii 96720 <br />Your Committee on Finance. to which was referred Bill No. 101, reports as ibllo~tis: <br />Bill No. 101, transmitted by Director of Finance William Takaba, via Communication No. 22I. <br />dated April 14, 2003, amends Chapter 19 of the Hawaii County Code 1983 ~ 1995 F.dition)_ <br />relating to real property taxes, by clarifying, native forest dedications. <br />Bill No. 1 UI proposes to align the native forest provisions of the real property tax code with the <br />intent of the original law passed in 1996. which was to preserve and restore the Counte~s <br />watershed and ecosystems and encourage new native forest initiatives. The idea was to place <br />"native forests" in the same classification as "agriculture" which allowed native Ibrest properties <br />to receive lower assessments based on "productivity° values. 'i~hc law also established 20-year <br />nurire Joresl c(c~eliculion program to grant a tax advantage to owners who committed their <br />properties to the restrictive provisions of this program. Howeva~. since native tbrest properties <br />are in the agriculture section ol~the Hawaii County Code, property owners can receive the lov` <br />productivity assessments and participate year-to-year without dedicating the land to native forest <br />use. phis year-to-year assessment iti contrary to the long-term objectives of native liirest <br />preservation and restoration. <br />phis measure assigns the native forest dedication program to a unique section of Chapter 19 <br />(Article 8, Section 19-59) and clarifies that the henefits for the native ~brest program arc <br />available only under this section. <br />During its discussion of Bill 1 UI, the following amendments were made. since the <br />agricultural revisions have not been passed. <br />1. Delete brackets on page two, ('_)(A)(i) /19-~3(Jl(1l nJ~Ih// and delete underscore /9-.i-. <br />Also change the word `of' to "or". Which should read as ~bllows: <br />(i) Real property which is valued according to its agricultural for native forests use <br />pursuant to subsection 19-53(t)(1) or (h), <br />FC RIiNOKI NO. 101 <br />