HI SB341

Establishes an income tax exclusion for qualified taxpayers engaged in taro cultivation and production of value-added taro products, excluding an unspecified dollar amount of gross income per qualified taxpayer.

Exempts from taxation taro plants, taro corms, leaves, hulls, taro lands (including fallow rotation lands), and taro-based preparations and poi produced by qualified taro farmers.

Defines "qualified taxpayer" as individuals engaged in producing taro or taro products for sale and in manufacturing, processing, or preparing taro for sale.

Provides that the exclusion shall not apply if the state's total locally grown taro acreage surpasses 30,000 acres, as determined by the department of agriculture.

Effective July 1, 2050, and applies to taxable years beginning after December 31, 2020.