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HI HB2520
Bill
Status
Introduced
1/28/2026
Primary Sponsor
Chris Todd
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AI Summary
- Increases the annual cap on certified research activity tax credits from $5,000,000 to $15,000,000 per taxable year
- Eliminates the federal "base amount" calculation requirement from section 41 of the Internal Revenue Code for Hawaii's research tax credit
- Allows taxpayers to claim credits for all qualified research expenses without regard to expenses incurred in previous years
- Department of Business, Economic Development, and Tourism will continue to certify credits on a first-come, first-served basis until the annual cap is reached
- Takes effect for taxable years beginning after December 31, 2025
Legislative Description
Relating To Taxation.
Income Tax
Last Action
Referred to ECD, FIN, referral sheet 6
2/2/2026
Committee Referrals
Economic Development2/2/2026
Full Bill Text
No bill text available