Bill Text: HI SB3032 | 2022 | Regular Session | Introduced

---

Bill Title: Relating To The Important Agricultural Land Qualified Agricultural Cost Tax Credit.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-26 - Referred to AEN, WAM. [SB3032 Detail]

Download: Hawaii-2022-SB3032-Introduced.html

---

THE SENATE	S.B. NO.	3032
THIRTY-FIRST LEGISLATURE, 2022
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO THE IMPORTANT AGRICULTURAL LAND QUALIFIED AGRICULTURAL COST TAX CREDIT.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Section 235-110.93, Hawaii Revised Statutes, is amended by amending subsection (l) to read as follows:

     "(l)  The department of agriculture shall cease certifying credits pursuant to this section for taxable years beginning after December 31, [2021;] 2032; provided that a taxpayer with accumulated, but unclaimed, certified credits may continue claiming the credits in subsequent taxable years until exhausted."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act, upon its approval, shall take effect retroactive to January 1, 2022.

 

INTRODUCED BY:	_____________________________
	BY REQUEST

 

 

Report Title:

Important Agricultural Land Qualified Agricultural Cost Tax Credit

 

Description:

Reinstates and extends through the 2032 tax year, the duty of the Department of Agriculture to certify the amount of the Important Agricultural Lands Qualified Agricultural Cost Tax Credit for each taxable year.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.