HI HB2614

Exempts amounts received from the construction of a space launch facility in Hawaii from general excise tax under Chapter 237 of Hawaii Revised Statutes.

Exempts materials, parts, and tools used for constructing a space launch facility from use tax under Chapter 238 of Hawaii Revised Statutes.

Defines "construction of a space launch facility" to include all design, engineering, labor, and material costs for constructing, reconstructing, or improving space launch facilities.

Defines "space launch facility" as a facility designed to facilitate space flight, including commercial space launch sites and facilities that manufacture or process equipment for renovation or reconstruction of commercial launch sites.

Effective date: January 20, 2050.