HI SB1192

Establishes a seven-year Kapolei jobs initiative pilot program in Hawaii to incentivize businesses to establish or open new locations in the Kapolei region (zip codes 96706, 96707, 96709).

Defines "qualified businesses" as those that establish new locations with minimum 10 full-time employees earning at least $25,000 annually for half the workforce, earn at least half their revenue from the designated area, and exclude most retail operations.

Creates an income tax credit for qualified businesses deductible from net income tax liability, with specific percentages for unemployment insurance accrued or paid under chapter 383 ranging from a higher percentage in year one and decreasing through year five.

Requires qualified businesses to pre-register with the Department of Business, Economic Development, and Tourism and submit annual sworn statements documenting expenditures, employment data, wages, and tax credits claimed.

Tax credit provisions apply to taxable years beginning after December 31, 2017, with the entire tax credit program expiring on December 31, 2024.