Bill Text: HI HB1209 | 2015 | Regular Session | Introduced
Bill Title: State Enterprise Zones; Economic Development for Growing Economy
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2015-02-02 - Referred to EDB, WAL, FIN, referral sheet 6 [HB1209 Detail]
Download: Hawaii-2015-HB1209-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1209 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO STATE ENTERPRISE ZONES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to incentivize business investment targeted along emerging enterprise zones, and to coordinate state tax credits by expanding enterprise zone designation for Economic Development for Growing Economy (EDGE).
SECTION 2. Section 209E‑4, Hawaii Revised Statutes, is amended as to read as follows:
"§209E-4 Enterprise zone designation. (a) The governing body of any county may apply in writing to the department to have an area declared to be an enterprise zone. The application shall include a description of the location of the area or areas in question, and a general statement identifying proposed local incentives to complement the state and any federal incentives.
(b) The governor, upon the recommendation of
the director, shall approve the designation of up to six areas in each county,
and an additional six areas in the State within one-half mile of a proposed
or existing rail transit station as enterprise zones for a period of twenty
years. Any such area shall be located in one United States census tract, or
two or more contiguous United States census tracts in accordance with the most
recent decennial United States Census[.], or areas within one-half
mile of a proposed or existing rail transit station. The census tract or
tracts within which each enterprise zone is located also shall meet at least
one of the following criteria:
(1) Twenty-five per cent or more of the population
have incomes below eighty per cent of the median family income of the county; [or]
(2) The unemployment rate is 1.5 times the state
average[.]; or
(3) Within one-half mile of a proposed or existing rail transit station.
SECTION 3. Section 209E‑9, Hawaii Revised Statutes, is
amended to read as follows:
"§209E-9 Eligibility; qualified business; sale of property or services. (a) Any business firm may be eligible to be designated a qualified business for purposes of this chapter if the business:
(1) Begins the operation of a trade or business of an eligible business activity within an enterprise zone;
(2) During each taxable year has at least fifty per cent of its enterprise zone establishments' gross receipts attributable to the active conduct of trade or business within enterprise zones located within the same county; and
(3) [Either:]Shall
meet at least one of the following criteria:
(A) Increases
its average annual number of full-time employees by at least ten per cent by
the end of its first tax year of participation, and during each subsequent
taxable year at least maintains that higher level of employment; [or]
(B) Increases its gross sales of agricultural
crops produced, or agricultural products processed within enterprise zones
located within the same county by two per cent annually[.]; or
(C) Increases or perpetuates economic development for growing economy (EDGE) along proposed or existing rail transit station. For the purposes of this section, an "economic development for growing economy" or "EDGE" means a for-profit enterprise that is a corporation, partnership, limited liability company, sole proprietorship, or other form of business entity within one-half mile of a proposed or existing rail transit station."
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2015.
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INTRODUCED BY: |
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Report Title:
State Enterprise Zones; Economic Development for Growing Economy
Description:
Establishes EDGE criteria to qualify for designation as an enterprise zone along rail transit stations.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
