[luau] What does Everyone think of ACT221?

[Warren Togami]

On Thu, 2003-04-24 at 23:14, Virgil wrote:
> Hi all,
> 
> I went to the HVCA party today to listen to speaker Ted Liu who is in charge
> of DBEBT. I found the gathering to be interesting and informative although I
> felt a bit out of place. When you talk to these people about Apache is they
> think Indians instead.
> 
> As you all know there has been a clash between the Lingle administration
> and the high tech community here in Hawaii who wish to keep ACT221 intact.
> After listening to Ted Liu I'm convinced that they want to do everything for
> Hawaii's high tech even though they want to do a few changes to the tax law.
> Listening to him I split 50/50 on the issue of whether to change and better
> the act or  don't do any changes at all which most of the community has
> agreed. 
> 
> I was against making changes to this act in the beginning. Now seeing both
> sides of the picture I'm somewhat 50/50 for and against making changes.
> 
> Sorry this might be a little bit off topic but it concerns a lot of people
> here on the list. 
> 
> Virgil

I haven't been following Act221 too deeply, but I think the issue is the
stimulus was too large, and with some loopholes some companies are
taking advantage of the situation.  There are some allegations that some
tech companies are getting more refunds than they are paying taxes.

I don't know the details, but if that is the situation I feel that there
should be a middle ground between the current dollar/percentage amounts
and repealing it entirely.

Warren