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HI HB92
Bill
Status
1/16/2025
Primary Sponsor
Kirstin Kahaloa
Click for details
AI Summary
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Amends Hawaii Revised Statutes Section 235-110.91(o) to expand the definition of "qualified high technology business" to include agricultural businesses that conduct qualified research and are registered to do business in Hawaii.
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Defines "agricultural business" as a company primarily focused on the development and sale of agricultural products.
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Allows agricultural businesses and small businesses (up to 500 employees) conducting qualified research to claim tax credits for qualified research expenses incurred within the State.
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Removes the previous requirement that qualified high technology businesses meet the definition in Section 235-7.3(c).
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Takes effect on July 1, 3000.
Legislative Description
Relating To Agriculture.
Tax Credit for Research Activities
Last Action
Passed Second Reading as amended in HD 2 and referred to the committee(s) on FIN with Representative(s) Perruso voting aye with reservations; none voting no (0) and Representative(s) Cochran, Matayoshi, Poepoe, Ward excused (4).
2/14/2025