HomeMy WebLinkAboutREP FC 581 06/23/1992 .--" REPORT OF THE
COMMITTEE ON FINANCE
Date: June 23 , 1992
Place: Councilroom
Time: 10 : 00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred the report of the
Subcommittee on Real Property Tax-2, did not accept the report and
decided to file Bill 545, Draft 3 since Bill 545, Draft 4 had not
been drafted. A new measure will be forthcoming .
Your Committee on Finance recommends that the Subcommittee on Real
Property Tax Report No . 2 not be adopted and that Bill 545, Draft 3,
be filed .
(See Subcommittee Report-2 which is attached. )
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HELENE H. HALE, CHAIRWOMA
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ROBERT H. MAKUAKANE, VICE CHR. BRIAN J DE LIMA, `- : R
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HARRY S RUDDLE, MEMBER 'E CER ' . SCHUTTE, MEMBER
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FC REPORT Noy 581
ADOPTED: JUL 1 1992
REPORT OF THE 2nd SESSION
COMMITTEE ON FINANCE
SUBCOMMITTEE ON REAL PROPERTY TAX
Date: April 3 , 1992 Re: Comm. 3352
Place: Councilroom
Time: 9 : 00 a .m.
Mrs . Helene H. Hale, Chairwoman
and Members
Committee on Finance
Hawaii County Council
Hilo, Hawaii 96720
Your Subcommittee on Real Property Tax, to which was referred
Communication No. 3352 and its attached Bill No . 545, Draft 3 ,
reports as follows :
Communication 3352 and its Bill No . 545, Draft 3, as originally
submitted, proposes to allow the Council the flexibility to require
an improvement district before a tax increment district can be
created without jeopardizing the traditional tax increment financing
mechanism.
Your Subcommittee discussed the Hybrid concept . Dixie Kaetsu, County
Controller, advised the Subcommitte that the Corporation Counsel and
Bond Counsel should be involved in any redraft of Bill 545 .
Your Subcommittee Chairman Brian De Lima, recommended that Draft 3 be
referred to the Finance Committee with the understanding that a
Draft 4 will be developed with the assistance of the Corporation
Counsel and Bond Counsel . The intent is to achieve the objective of
establishing a Tax Increment District only upon the authorization of
an improvement district .
Your Subcommittee has agreed that a Draft 4 be redrafted by
Subcommittee Chairman De Lima, Controller Dixie Kaetsu, Deputy
Corporation Counsel Fred Giannini , in consultation with Bond Counsel
and discussed upon the receipt of Draft 4 limited to the Hybrid
concept .
Your Subcommittee also took action to close file on all previous
bills and communications referred to the Subcommittee regarding the
Tax Increment Financing matter .
BRIAN J. DE LIMA, CH R
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HEL NE H. HALE, MEMBER MER K. LAI, MENZSE1
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SUB ON RPT NO . 2