HI HB1642

Requires qualified high technology businesses claiming the research activities tax credit to file annual survey information with the Department of Taxation

Mandates the Department of Taxation submit annual reports to the Legislature detailing survey information collected and the tax credit's effectiveness

Extends the existing tax credit for research activities for five additional years, through taxable years beginning before December 31, 2015

Aims to foster economic improvement and job creation by supporting research and development activities in Hawaii's high technology industries