HI HB23

Repeals Section 235-110.46 of the Hawaii Revised Statutes, which established the attractions and educational facilities tax credit for Ko Olina Resort and Marina and Makaha Resort.

Removes the tax credit provision that allowed qualified taxpayers to claim credits for qualified costs in developing facilities for attractions and educational purposes at the two resort locations from June 1, 2003, through May 31, 2009.

Amends Section 235-2.45(d) to remove the reference to attractions and educational facilities tax credit allocations, renumbering subsequent provisions accordingly.

Eliminates the $75,000,000 aggregate credit cap and $7,500,000 annual limit that previously applied to the tax credit program.

Effective upon approval.