Legislative Intent

(a)I Liheslaturan Guåhan recognizes that the Qualifying Certificate program of the Guam Economic Development Authority (Authority) was conceived as an economic incentive tool to entice investors into Guam. In use for over four

(4)decades, it has had a substantial positive impact upon the economic development of Guam, mainly in the tourist industry.

(b)It is the goal of the Guam Visitors Bureau, under their Vision 2020, to build one thousand six hundred (1,600) new hotel rooms by 2020. Several companies have expressed interest in building hotel rooms on Guam; however, Guam must offer incentives to compete with other tourism markets.

(c)Prospective developers have also expressed a reluctance to commit, as it is yet unknown where Guam stands with the China Visa Waiver program. This has caused a delay in the development of our number one industry, and the Qualifying Certificate could provide additional incentive to develop the 1,600 rooms in time to meet the 2020 deadline.

(d)As such, I Liheslatura recognizes the aggressive goal of 1,600 hotel rooms by the year 2020, and the Guam Qualifying Certificate Program shall be updated to provide special incentives for hotel developers.