Amends the research activity tax credit so that references to the base amount in section 41 of the Internal Revenue Code shall not apply, and credit for all qualified research expenses may be taken without regard to the amount of expenses for previous years. Transfers certification duties from the Department of Taxation to the Department of Business, Economic Development, and Tourism, which shall identify to the Legislature taxpayers who apply for the tax credit. Establishes an annual aggregate cap of $5,000,000. Extends the research activity tax credit through 2024. Repeals the research activity tax credit on 12/31/2024. (CD1)
Hawaii SB 1314 (2019 Regular Session) — RELATING TO TAX CREDITS.
Amends the research activity tax credit so that references to the base amount in section 41 of the Internal Revenue Code shall not apply, and credit for all qualified research expenses may be taken without regard to the amount of expenses for previous years. Transfers certification duties from the Department of Taxation to the Department of Business, Economic Development, and Tourism, which shall identify to the Legislature taxpayers who apply for the tax credit. Establishes an annual aggregate cap of $5,000,000. Extends the research activity tax credit through 2024. Repeals the research activity tax credit on 12/31/2024. (CD1)
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
The Conference Committee recommends that the measure be Passed, with Amendments. — 4–0 (pass) · lower
The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. — 11–0 (pass) · upper
The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. — 3–0 (pass) · upper
The committees on FIN recommend that the measure be PASSED, WITH AMENDMENTS. — 14–0 (pass) · lower
Sponsors
Fevella — primary (person)
Inouye — primary (person)
J.KEOHOKALOLE — primary (person)
Kim — primary (person)
Taniguchi — primary (person)
Wakai — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2019-01-24 Introduced. introduction
2019-01-24 Passed First Reading. reading-1
2019-01-28 Referred to WAM. referral-committee
2019-02-15 The committee(s) on WAM has scheduled a public hearing on 02-20-19 10:00AM in conference room 211.
2019-02-20 The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, English, Inouye, K. Kahele, Kanuha, Kidani, Moriwaki, Shimabukuro, Taniguchi, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Harimoto, Riviere. committee-passage-favorable
2019-03-01 Reported from WAM (Stand. Com. Rep. No. 900) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
2019-03-01 Report adopted; Passed Second Reading, as amended (SD 1).
2019-03-01 48 Hrs. Notice 03-05-19.
2019-03-05 Passed Third Reading, as amended (SD 1). Ayes, 24; Aye(s) with reservations: none . Noes, 0 (none). Excused, 1 (Senator(s) Harimoto). Transmitted to House. passage
2019-03-05 Received from Senate (Sen. Com. No. 445) in amended form (SD 1). introduction
2019-03-07 Pass First Reading reading-1
2019-03-07 Referred to FIN, referral sheet 27 referral-committee
2019-03-12 Bill scheduled to be heard by FIN on Friday, 03-15-19 2:00PM in House conference room 308.
2019-03-15 The committees on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 14 Ayes: Representative(s) Luke, Cullen, Eli, Gates, Hashimoto, Holt, Kitagawa, B. Kobayashi, Matayoshi, Nishimoto, Todd, Wildberger, Yamashita, McDermott; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) Nakamura. committee-passage-favorable
2019-04-01 Reported from FIN (Stand. Com. Rep. No. 1912) as amended in HD 1, recommending passage on Second Reading and placement on the calendar for Third Reading.
2019-04-01 Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Hashem, McKelvey, Saiki, Todd excused (4).
2019-04-03 Deferred one day 04-04-19.
2019-04-04 Passed Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Nishimoto, Quinlan excused (2). Transmitted to Senate. passage
2019-04-05 Received from House (Hse. Com. No. 592). introduction
2019-04-05 Senate disagrees with House amendments.
2019-04-05 Received notice of disagreement (Sen. Com. No. 685).
2019-04-15 Senate Conferees Appointed: Dela Cruz Chair; Keith-Agaran Co-Chair; Fevella.
2019-04-15 Received notice of Senate conferees (Sen. Com. No. 901).
2019-04-22 Re-referred to EDB, FIN, referral sheet 56 referral-committee
2019-04-22 House Conferees Appointed: McKelvey, Kitagawa Co-Chairs; Cullen, McDermott.
2019-04-23 Received notice of appointment of House conferees (Hse. Com. No. 826).
2019-04-24 Conference committee meeting scheduled for 04-25-19 3:45PM in conference room 309.
2019-04-25 The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 3 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none. committee-passage-favorable
2019-04-25 The Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 4 Ayes: Representative(s) McKelvey, Kitagawa, Cullen, McDermott; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.
2019-04-26 Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 133).
2019-04-26 48 Hrs. Notice (as amended CD 1) 04-30-19.
2019-04-26 Reported from Conference Committee (Conf Com. Rep. No. 133) as amended in (CD 1).
2019-04-30 Passed Final Reading as amended in CD 1 with Representative(s) Tokioka voting aye with reservations; none voting no (0) and Representative(s) Ichiyama excused (1).
2019-04-30 Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.
2019-05-01 Received notice of Final Reading (Sen. Com. No. 968).
2019-05-02 Received notice of passage on Final Reading in House (Hse. Com. No. 883).
2019-05-06 Enrolled to Governor. executive-receipt
2019-07-09 Act 261, on 07/05/2019 (Gov. Msg. No. 1363). executive-signature