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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: March 8, 2001 Re: Comm. No. 104/Bill No. 29 <br /> PLACE: Council Chambers <br /> TIME: 10:10 A.M. <br /> Council Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 29, reports as follows: <br /> <br /> Bill No. 29, transmitted by Assistant Corporation Counsel Gerald Takase, via Communication <br /> <br /> No. 104, dated January 25, 2001, amends Chapter 19, Article 10, Section 19-89, Hawaii County <br /> <br /> Code, relating to real property taxes. <br /> <br /> The State Legislature is currently considering legislation, which would allow the counties to collect <br /> <br /> at least 1.885% of the public utilites' gross revenues in lieu of real property taxes. Along with other <br /> <br /> counties, the County of Hawaii and the major utilities have reached settlement on the matter of the <br /> <br /> public service company tax that is collected in lieu of real property taxes pursuant to Chapter 239, <br /> Hawaii Revised Statutes. <br /> <br /> The intent of this measure is to correctly position the County for the anticipated passage of this <br /> legislation. As proposed in order to effectuate the acceptance of the public service company tax by <br /> <br /> the utilities. <br /> <br /> A motion was made to ratify the agreement attached to Communication No. 104. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 29 and recommends <br /> it pass first reading. <br /> smc <br /> ,OYES NOES A&E EX <br /> Respectfully submitted <br /> CHUNG X <br /> Plslcc~llo x COMMITTEE ON FINANCE <br /> ARAKAKI X <br /> ELARIONOFF X <br /> JACOBSON X ` <br /> LElT1iEAD-TODD X <br /> SAFARIK x AARON S.Y. CHUNG, CHAIR <br /> TYLER X FC REPORT NO. 37 <br /> YAGONG X ADOPTED: R ~ <br /> <br />