SB 13 Hawaii Senate · 2026 Regular Session

RELATING TO THE AQUACULTURE INVESTMENT TAX CREDIT.

Summary

For taxable years beginning after 12/31/2025, establishes a 5-year aquaculture investment tax credit for taxpayers that incur qualifying investment costs relating to qualified aquaculture businesses. Takes effect 7/1/2050. (SD1)

Issues: ✓ Budget & Taxes

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Jan 8, 2025 Last action Dec 8, 2025

Maddy AI version diff · 1 comparison

What changed between versions

SB13 → SB13_SD1 · 5 edits

MODERATE

This bill was amended to change its effective date from December 31, 2025, to July 1, 2050, and to clarify the definition of eligible costs for the aquaculture investment tax credit. The changes ensure the credit applies only to specific capital improvements like land acquisition and facility construction rather than general expenses, while also adding a rule to prevent other tax benefits from being claimed for the same investments.

Scope change

The bill's effective date was significantly delayed from late 2025 to 2050, and the scope of eligible expenses was narrowed to specific capital improvements.

TIMELINE

The effective date of the act was changed from December 31, 2025, to July 1, 2050, delaying when the tax credit becomes available.

DEFINITION

The definition of eligible expenses was updated to strictly include only capital improvements such as land acquisition, new facility construction, and renovations, excluding general operational costs.

REQUIREMENT

A new provision was added to prevent taxpayers from claiming other tax credits or deductions for the same qualifying investments in the same year.

Documentation requirements were updated to require verification of 'qualifying investment costs' instead of general 'qualifying investments'.

ELIGIBILITY

The credit calculation was adjusted to apply to 'qualified investment costs' incurred by the entity rather than just 'qualified investments'.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 12, 2025

Upper · Passed

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.

upper

Feb 12, 2025

Committee

Reported from AEN (Stand. Com. Rep. No. 298) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Jan 24, 2025

Upper · Passed

The committee(s) on AEN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in AEN were as follows: 4 Aye(s): Senator(s) Gabbard, Richards, Rhoads, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) DeCoite.

upper

Jan 21, 2025

Upper · Passed

The committee(s) on AEN has scheduled a public hearing on 01-24-25 1:00PM; Conference Room 224 & Videoconference.

upper

Jan 16, 2025

Committee

Referred to AEN, WAM.

upper

Jan 15, 2025

Introduced

Introduced and passed First Reading.

upper

Jan 8, 2025

Introduced

Pending Introduction.

upper

1 primary · 0 co-sponsors