HI HB642

Adds a new exemption to Hawaii's General Excise Tax (GET) for amounts received from the sale or disposal of wet waste recyclables, up to a specified dollar amount (amount left blank in the bill).

Defines "wet waste recyclables" as clean garbage sold as food for domestic animals or composting material from restaurants, hotels, retailers, or wholesalers, including kitchen refuse, table refuse, and animal/vegetable scraps diverted from the solid waste stream.

Excludes butcher shop by-products from the wet waste recyclables definition if they have commercial value, are not decomposed or offensive, and have not been rejected by owners as waste.

Applies to gross income or gross proceeds received after December 31, 2015.