HI SB965

Increases the state income tax credit for qualified research activities for tax years beginning after December 31, 2018, by an unspecified multiplier of the federal tax credit under Internal Revenue Code Section 41 (as enacted December 31, 2011).

Adds a five-year recapture provision requiring businesses that claim the research tax credit to remain qualified as "qualified high technology businesses" or face recapture of all tax credits claimed in the preceding five years.

Requires qualified high technology businesses claiming the credit to file annual surveys with the Department of Business, Economic Development, and Tourism detailing expenditures, employment, intellectual property, and industry sector information.

Extends the section's applicability from tax years beginning after December 31, 2019 to an unspecified future date (shows blank in text).

Establishes an effective date of July 1, 2112, applying to tax years beginning after December 31, 2018.