HI SB338

Temporarily reinstates the Technology Infrastructure Renovation Tax Credit for taxable years beginning after December 31, 2025, through December 31, 2027.

Expands the definition of "technology-enabled infrastructure" to include data servers, defined as computer systems designed for processing, storage, retrieval, and management of electronic data.

Increases eligible renovation costs to include planning, design, installation, repair, replacement, monitoring, and testing of technology infrastructure machinery and equipment.

Sets the tax credit at four percent of renovation costs incurred during the taxable year in Hawaii for eligible entities.

Requires the Department of Taxation to submit a report to the Legislature no later than twenty days prior to the 2029 regular session with findings, recommendations, and any proposed legislation regarding the tax credit.