HI HB572

Establishes an income tax credit for qualified hotel construction and renovation costs incurred during taxable years beginning after December 31, 2015, through December 31, 2020.

Credit amount equals a specified percentage of construction or renovation costs per qualified hotel facility, with the percentage amount left blank in the bill text.

Requires taxpayers claiming the credit to file annual surveys with the Department of Business, Economic Development, and Tourism by June 30 each year, including employment data, wage information, and certified payroll documentation.

Mandates compliance with Hawaii's prevailing wage law (Chapter 104) and requires certification from the Department of Labor and Industrial Relations before the credit can be claimed.

Defines "qualified hotel facility" as structures providing transient lodging for less than thirty days with customary hotel services, including time share projects but excluding standard condominium units.