HI SB2094

Amends the important agricultural land qualified agricultural cost tax credit by replacing specific percentage rates and dollar cap amounts with unspecified amounts to be determined (affecting first, second, and third year credit limits)

Extends the deadline for the Department of Agriculture to certify new tax credits from December 31, 2021 to December 31, 2030, allowing an additional 9 years for new credit certifications

Allows taxpayers with accumulated but unclaimed certified credits to continue claiming credits in subsequent taxable years after the certification deadline expires

Applies to taxable years beginning after December 31, 2019, with an effective date of July 1, 2050