HI HB2224

Amends the definition of "qualified high technology business" under Section 211F-51 of Hawaii Revised Statutes to remove exclusionary language that previously barred certain business types from program eligibility.

Removes exemptions that previously excluded businesses in law, architecture, accounting, actuarial science, consulting, athletics, financial services, and brokerage services from the qualified high technology business definition.

Removes exemptions that previously excluded banking, insurance, financing, leasing, rental, investing, farming, natural resource extraction, hotels, motels, restaurants, hospitals, and health care facilities from program eligibility.

Simplifies the definition to require only that a business conducts more than 50% of its activities in qualified research in the State, or receives more than 50% of gross income from qualified research on products or services in the State.

Takes effect on July 1, 2112.