HI SB676

Expands definition of "capital infrastructure costs" to include structures, machinery, equipment, and capital assets, not just real property and fixtures, for businesses relocating within Honolulu harbor.

Establishes a maximum tax credit amount per qualified infrastructure tenant in any taxable year (specific dollar amount left blank in text) with carryforward provisions for excess credits.

Adds "special purpose entities" as eligible qualified infrastructure tenants if formed to raise investor capital, but limits their credits to the same maximum as the underlying qualified infrastructure tenant.

Requires recapture of credits if the tenant fails to continue its line of business within three years, sells its interest, or fails to relocate from the former Kapalama military reservation site within a specified timeframe.

Sunsets the credit after December 31, 2019, and requires taxpayers claiming the credit to report the credit amount and tenant information to the legislature within a specified timeframe.