HI SB678

Expands the definition of "capital infrastructure costs" to include structures, machinery, equipment, and capital assets in addition to real property and fixtures.

Increases the maximum capital infrastructure tax credit from $2,500,000 to $5,000,000 per qualified infrastructure tenant, with annual claims capped at $2,500,000 and excess costs carried forward to subsequent years.

Adds special purpose entities as eligible qualified infrastructure tenants, provided they cannot generate additional credits beyond the per-tenant limits.

Requires taxpayers claiming the credit to submit information to the legislature within a specified timeframe, with penalties of $5,000 per month (up to $25,000) for failure to comply.

Limits all credits to taxable years beginning after December 31, 2016 and ending by December 31, 2019, with recapture provisions if the tenant fails to relocate or continues the business for less than three years.