THE SENATE	S.B. NO.	2967
THIRTY-FIRST LEGISLATURE, 2022
STATE OF HAWAII

A BILL FOR AN ACT

Relating to THE important agricultural lands 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;] 2031; 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 Statutory material to be repealed is bracketed and stricken.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 apply to taxable years beginning after December 31, 2021.

INTRODUCED BY:

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Report Title:

Important Agricultural Lands Qualified Agricultural Cost Tax Credit

Description:

Extends the Important Agricultural Lands Qualified Agricultural Cost Tax Credit until December 31, 2031.

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