HI HB608

Establishes an organic foods production tax credit for qualified taxpayers engaged in organically produced agricultural products, deductible from net income tax liability.

Credit amount equals qualified expenses up to a maximum per taxable year (amount not specified in bill text).

Qualified expenses include USDA organic certification fees, inspection costs, equivalency agreement fees, and equipment/materials necessary for organic production, but exclude amounts refunded by USDA cost-share programs.

Qualified taxpayers must have applied for organic certification under the federal Organic Foods Production Act and have gross income from organic product sales not exceeding $500,000 in the most recent fiscal year.

Department of Agriculture certifies tax credit claims and maintains records; total credits capped annually (cap amount not specified in bill text); credit sunsets December 31, 2033.