HI HB937

Exempts grants received from the federal Restaurant Revitalization Fund (RRF) under the American Rescue Plan Act of 2021 from Hawaii's state general excise tax.

Requires refund of any state general excise tax already paid by eligible businesses on RRF grants (refund deadline not specified in bill).

Applies retroactively to taxable years beginning after March 11, 2021, aligning the RRF tax treatment with prior exemptions granted to Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loan (EIDL) grants under the CARES Act.

Addresses inconsistency in state tax treatment where PPP and EIDL grants were exempted from general excise tax under prior department of taxation guidance, but RRF grants were not exempted despite similar pandemic relief purposes.