§235-20.5 Tax administration special fund; established. [Repeal and reenactment on January 1, 2011. L 2007, c 206, §8.] There is established a tax administration special fund, into which shall be deposited fees collected under sections 235-20, 235-110.9, and 235-110.91, and penalties collected under section 2 of Act 206 [Session Laws of Hawaii 2007]. The moneys in the fund shall be expended by the department to offset the costs associated with:
(1) Issuing comfort letters;
(2) Administering the tax credit under section 235-110.9, including issuing certificates; and
(3) Issuing certificates under section 235-110.91. [L 2004, c 215, pt of §3; am L 2007, c 206, §3]
Note
The 2007 amendment applies to investments received by a qualified high technology business after June 30, 2007. L 2007, c 206, §8.