S.B. 2475 Summary

• Clarifies that amounts received or accrued for stevedoring services are exempt from Hawaii's general excise tax by explicitly referencing the definition in section 382-1.

• Adds wharfage and demurrage charges imposed under chapter 266 and paid to the department of transportation to the list of shipping-related services exempt from general excise tax.

• Maintains existing exemptions for loading and unloading cargo, tugboat and pilotage services, transportation of pilots, rigging gear, mooring usage, and similar shipping activities.

• Recognizes Hawaii's shipping industry as critical to the state and acknowledges that imposing tax on shipping costs would negatively impact the economy and increase cost of living for consumers.

• Takes effect upon approval.