HI HB2171

Establishes an income tax credit for construction costs incurred after December 31, 2014 for new hotel facilities located in Hawaii, deductible from net income tax liability.

Credit percentage and annual aggregate limit amount left blank in the bill text (to be filled in during legislative process).

Applies only to taxable years beginning after December 31, 2014 and ending before January 1, 2020.

Excludes condominiums and time share units; requires hotel facilities to provide transient lodging and customary services subject to Hawaii's transient accommodations tax.

Excess credits exceeding the annual aggregate limit or a taxpayer's annual liability may be carried forward to subsequent years until exhausted, with a 12-month filing deadline after the close of the taxable year.