HI SB530

Exempts from Hawaii's general excise tax the sale of prescription drugs (sold pursuant to doctor's prescription), hearing aids, prosthetic devices, mobility enhancing equipment, and durable medical equipment.

Expands the definition of "prosthetic device" to include replacement, corrective, or supportive devices worn on or in the body that artificially replace a missing portion, prevent or correct physical deformity, or support a weak or deformed portion of the body.

Exempts repair and replacement parts for all covered medical devices and equipment from the general excise tax.

Clarifies that the exemption does not apply to amounts received for services in selling these medical devices and equipment.

Effective for taxable years beginning after December 31, 2050.