HI SB2360

Expands Hawaii's Enterprise Zone Program eligibility to include local manufacturers selling directly to retail consumers within the zone, processing of value-added agricultural products, and professional health care services including home health care and health coaching.

Extends the state business tax credit eligibility period from 7 years to 9 years for qualified businesses, with credits starting at 80% of tax due in year one and decreasing to 20% by years seven through nine.

Extends the general excise tax exemption period from 7 years to 9 years for most qualified businesses, and from 10 years to 12 years for businesses engaged in manufacturing tangible personal property or producing/processing agricultural products.

Requires businesses seeking continued eligibility to increase their average annual full-time employees by at least 10% by the end of the first year and maintain at least 15% increases through the eighth and ninth years.

Takes effect July 1, 2050, with tax credit extensions applying to taxable years beginning after December 31, 2026, and general excise tax exemption extensions taking effect January 1, 2028.