HI HB499

Establishes a refundable Food and Beverage Supply Chain Resiliency Income Tax Credit equal to 40% of qualified expenses, with a total annual cap of $2,000,000 for all taxpayers combined

At least 25% of the annual tax credit allocation must be reserved for small-scale producers and community-based organizations

Qualified taxpayers include farmers, ranchers, food processors, distributors, retailers, food hubs, cooperatives, and food banks operating in Hawaii

Eligible expenses cover labor costs, infrastructure upgrades, equipment purchases, utilities, and food donation/recovery programs related to food and beverage supply chain operations

Requires the Department of Business, Economic Development, and Tourism to establish expedited permitting processes with 180-day approval timelines for food storage, processing facilities, retail expansions, and agricultural infrastructure projects