HB632 Summary

• Exempts prescription drugs sold pursuant to a prescription, diabetic supplies, prosthetic devices, medical oxygen, human blood and derivatives, mobility enhancing equipment sold by prescription, and durable medical equipment from Hawaii's general excise tax.

• Expands the definition of "prosthetic device" to include devices worn on or in the body such as hearing aids and pacemakers, and removes exclusions for auditory devices.

• Removes the exclusion of cannabis and manufactured cannabis products from the definition of "prescription drugs" for tax exemption purposes.

• Specifies that the exemption does not apply to service charges for selling these items, only to the products themselves.

• Takes effect July 1, 2050, and applies to taxable years beginning after December 31, 2018.