H.B. 1598 Summary

• Exempts amounts received for the sale of cacao from producers or processed cacao from processors from the general excise tax (GET).

• The tax exemption applies to gross income or gross proceeds received after December 31, 2012, and before January 1, 2018.

• Requires the Department of Agriculture to collaborate with the Department of Business, Economic Development and Tourism and the Department of Land and Natural Resources to identify the best locations for a cacao-processing facility with a capacity of 10,000 to 15,000 pounds of cacao beans per year on Oahu.

• The Department of Agriculture must report its findings and recommendations to the legislature no later than twenty days before the 2012 regular legislative session.

• Takes effect July 1, 2030.