Hawaii Senate Bill 3023

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 24 2024 - 25% progression
Action: 2024-01-26 - Referred to EET, WAM.
Pending: Senate Energy, Economic Development, and Tourism Committee
Text: Latest bill text (Introduced) [HTML]

Adds a cap for the amount of tax credits for research activities that an eligible taxpayer and the taxpayer's related entities may receive per taxable year. Consolidates the survey and certification requirements for tax credits for research activities. Amends the annual aggregate cap on tax credits for research activities that the Department of Business, Economic Development, and Tourism may certify. Requires certification of the tax credits for research activities on a first come, first served basis to be based on the date that a complete application is received, subject to certain conditions. Extends from 12/31/2024 to 12/31/2029, the sunset date for tax credits for research activities.

Relating To The Tax Credit For Research Activities.

Sen. Michelle Kidani [D]

Date	Chamber	Action
2024-01-26	Senate	Referred to EET, WAM.
2024-01-24	Senate	Passed First Reading.
2024-01-24	Senate	Introduced.

Type	Source
Summary	https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=3023&year=2024
Text	https://www.capitol.hawaii.gov/sessions/session2024/bills/SB3023_.HTM