Bill Text: HI HB479 | 2013 | Regular Session | Introduced
Bill Title: Enterprise Zones; Repeal of Incentives
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-02-04 - The committee(s) on AGR/EDB recommend(s) that the measure be deferred until 02-11-13. [HB479 Detail]
Download: Hawaii-2013-HB479-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
479 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
Relating to Enterprise zones.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to repeal certain tax incentives received by businesses engaged in the research, development, sale, or production of genetically-engineered products within state enterprise zones.
SECTION 2. Section 209E-2, Hawaii Revised Statutes, is amended by amending the definition of "eligible business activity" to read as follows:
""Eligible business activity" means the:
(1) Manufacture of tangible personal property, the wholesale sale of tangible personal property as described in section 237-4, or a service business as defined in this section;
(2) Production of agricultural products where the business is a producer as defined in section 237-5, or the processing of agricultural products, all or some of which were grown within an enterprise zone; or
[(3) Research, development, sale, or
production of all types of genetically-engineered medical, agricultural, or
maritime biotechnology products; or
(4)] (3) Production of electric power
from wind energy for sale primarily to a public utility company for resale to
the public."
SECTION 3. Section 209E-11, Hawaii Revised Statutes, is amended to read as follows:
"§209E-11 State general excise
exemptions. The department shall certify annually to the department of
taxation that any qualified business is exempt from the payment of general excise
taxes on the gross proceeds from an eligible business activity as defined in
this chapter; provided that agricultural businesses [other than those
engaged in the production of genetically-engineered agricultural products]
shall not be exempt from the payment of general excise taxes on the gross
proceeds of agricultural retail sales. The gross proceeds received by a
contractor licensed under chapter 444 shall be exempt from the general excise
tax for construction within an enterprise zone performed for a qualified
business within an enterprise zone or a business that has been approved by the
department to enroll into the enterprise zone program. The exemption shall
extend for a period not to exceed seven years; provided
that for qualified businesses engaged in the manufacturing of tangible personal
property or the producing or processing of agricultural products, the exemption
shall extend for a period not to exceed ten years; provided further that if a
force majeure event occurs, then the period of time shall be tolled until the
force majeure event ceases."
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, 2013, and shall apply to taxable years beginning after December 31, 2012.
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INTRODUCED BY: |
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Report Title:
Enterprise Zones; Repeal of Incentives
Description:
Repeals certain enterprise zone tax incentives for businesses engaged in the research, development, sale or production of genetically-engineered products. Effective July 1, 2013, and shall apply to taxable years beginning after December 31, 2012.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
