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Posts Tagged ‘Senate’

A world-class waste

Tuesday, April 8th, 2008

What can you do but moan about today’s story by Andrew Gomes about Ko Olina developer Jeff Stone reneging on a promise not to collect on a $75 milion tax credit for a nonexistent aquarium at the resort.

Prompted mainly by now-Senate President Colleen Hanabusa, who represents the West O’ahu district, the Senate twice since 2002 approved the huge tax credit as though Hawai’i’s very economic future depended on building a “world class” fish tank at the Leeward resort.

When it became apparent last year that the aquarium was never going to be built, Hanabusa, who aspires to higher office, persuaded Stone to say so and promise not to collect on the tax credit.

But when the Legislature failed to agree on bills to either rescind the tax credit or reallocate the money to some other boondoggle, Stone said “what the heck” and filed for a $3.45 million credit on previous expenses for the not-to-be aquarium and plans to file for $322,952 more.

Hanabusa, who lives in Ko Olina, felt so strongly about the aquarium tax credit that she sued former Gov. Ben Cayetano when he vetoed the original version.

I can’t wait to hear her explanation of how the money Stone collected benefited Hawai’i taxpayers.

I hope he at least sent her a nice goldfish bowl for her office.