S.B. 801 Summary

• Establishes a qualified internship tax credit for employers who hire students enrolled in Department of Education schools or public charter schools, equal to the value of 50 hours of intern wages per qualified intern with a maximum per-taxpayer cap (amount left blank in bill).

• Requires qualified interns to earn at least $12.00 per hour, work a minimum of 150 hours (not more than 15 hours weekly during school year, not more than 40 hours weekly during holidays), and internships must meet Department of Education or University of Hawaii work-based learning program requirements.

• Establishes application and certification process administered by the Department of Labor and Industrial Relations, with taxpayers required to submit applications and annual sworn statements certifying intern employment, wages, and hours worked.

• Imposes aggregate annual cap on total credits available to all taxpayers (amount left blank), with unused credits carrying forward to subsequent years if cap is exceeded, and limits combined credits to 50% of taxpayer's tax liability.

• Requires reports to the Legislature from both the Department of Labor and Industrial Relations and Department of Taxation by January 1, 2025 and 2026 respectively, and appropriates unspecified funds for fiscal years 2023-2024 and 2024-2025.