Sen. Larry F. Kasperbauer introduced Bill 8 in attempt to attract investment banking institutions to Guam. If passed into law the bill will add investment banking securities and commodities trading as eligible activities for Qualifying Certificates.
Kasperbauer also introduced Bill 11. The legislation if passed would allow the exemption of wholesale telecommunication services and off-island sales from gross receipts tax.
Sen. Judi Won Pat introduced Bill 19. The legislation attempts to exempt the application of the Gross Receipts Tax from the sale of medicine medical supplies and medical equipment.
A similar piece of legislation was introduced by Sen. Mark Forbes speaker of the 28th Guam Legislature through Bill 22 to exempt the sale of medicine pharmaceuticals medical equipment and medical supply as well as the provision of medical services from the application of the gross receipts tax. Bill 22 also removes the application of the Use Tax from the importation of medical equipment.
Sen. Edward B. Calvo introduced Bill 65 which allows the governor to transfer up to $500 000 into the Guam Police Department from 2004 lapsed funds and the fiscal 2005 executive budget. The bill also gives the chief of police discretionary authority to transfer funds within the police department. MBJ
