HI SB760

Expands the definition of "qualified agricultural costs" under the Important Agricultural Land Qualified Agricultural Cost Tax Credit to include clearing, debris removal, and soil restoration on former sugar and pineapple plantation lands designated as important agricultural lands that have been out of agricultural use for more than five years.

Extends the deadline for the Department of Agriculture to certify tax credits from December 31, 2021 to December 31, 2029, allowing taxpayers with accumulated unclaimed certified credits to continue claiming them in subsequent years until exhausted.

Applies to taxable years beginning after December 31, 2019, with an effective date of July 1, 2150.