HI HB2017

Establishes a nonrefundable income tax credit for qualified agricultural investment costs incurred on Hawaiian home lands, with unused credits carried forward for up to five taxable years.

Eligible taxpayers must hold a valid lease, license, or right-of-entry from the Department of Hawaiian Home Lands and operate an agricultural, pastoral, aquacultural, or commercial business on those lands.

Qualified costs include agricultural infrastructure (roads, irrigation systems, water storage), equipment for cultivation and harvesting, consultant services, orchard establishment, and clearing of former sugar or pineapple plantation lands idle for more than five years.

The credit percentage and maximum dollar amount are left blank in the bill, to be determined during the legislative process.

Applies to taxable years beginning after December 31, 2026, with an effective date of July 1, 3000 (placeholder date).