HI HB2393

Establishes Agricultural Product Processing Program within Chapter 141, Hawaii Revised Statutes to encourage development of agricultural product processing activities that add value to products grown or produced in Hawaii.

Qualified businesses engaged in manufacturing, processing, or research of agricultural products grown in-state must increase full-time employees by at least 5% in year one and 10% in years four through seven, or alternatively increase gross sales by 2% annually.

Provides tax credits declining from 80% of taxes due in year one to 20% in year seven, with credits continuing at 20% for three additional years; also provides 80-100% unemployment tax credits on a similar graduated schedule.

Exempts qualified businesses from general excise taxes on eligible business activities for up to four years; exemption periods may be extended if force majeure events (natural disasters, disease outbreaks, etc.) prevent business operations.

Imposes graduated annual fees ($500 first year, $750 second year, $1,000 thereafter) on participating businesses, with revenues deposited into a special fund to support program administration and promotion.