HI HB205

Removes research, development, sale, or production of genetically-engineered medical, agricultural, or maritime biotechnology products from the definition of "eligible business activity" in Hawaii's enterprise zone program.

Eliminates tax exemptions for businesses engaged in genetically-engineered product activities that were previously eligible for general excise tax exemptions within enterprise zones.

Clarifies that agricultural businesses remain exempt from general excise taxes on gross proceeds, but the exemption no longer applies specifically to genetically-engineered agricultural product producers.

Maintains existing tax exemptions for other eligible activities including manufacturing, wholesale sales, traditional agricultural production, and wind energy production.

Takes effect July 1, 2011, and applies to tax years beginning after December 31, 2010.