RELATING TO RESEARCH ACTIVITIES.
Summary
Repeals the provision that made references to the base amount in the Internal Revenue Code inapplicable to the research activities tax credit and allowed credits for all qualified research expenses to be taken without regard to previous years expenses. Narrows the qualifying criteria for research activities tax credits to applicants who are small businesses registered in the State. Increases the maximum amount of tax credits that can be certified per year. Extends the sunset date of the research activities tax credit by five years. Effective 7/1/3000. (HD2)
Bill status
passed
3 of 5 stages cleared
Introduction
Jan 2024
Committee Review
Mar 2024
House Passage
Mar 2024
Senate Passage
Governor
Introduced Jan 19, 2024
Last action Mar 7, 2024
Floor votes · House Mar 5, 2024
How they voted
49–0
Passed · 2 other
Total votes 51
Mar 5, 2024
D
Democratic44
97% Yea
R
Republican7
85% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
18
Key actions
3
Committee
6
Mar 7, 2024
Committee
Referred to EET, WAM.
upper
Mar 7, 2024
Introduced
Received from House (Hse. Com. No. 269).
upper
Mar 5, 2024
Lower · Passed
Passed Third Reading as amended in HD 2 with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Woodson excused (2). Transmitted to Senate.
lower
Feb 26, 2024
Lower · Passed
The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 14 Ayes: Representative(s) Yamashita, Kitagawa, Aiu, Chun, Garrett, Kahaloa, Kila, Kobayashi, Lamosao, Morikawa, Nishimoto, Poepoe, Takenouchi, Alcos; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Cochran, Ward.
lower
Feb 13, 2024
Committee
Reported from ECD (Stand. Com. Rep. No. 294-24) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
lower
Feb 7, 2024
Lower · Passed
The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Holt, Lamosao, Hussey-Burdick, Kong, Nakamura, Quinlan, Pierick; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) La Chica.
lower
Jan 29, 2024
Committee
Re-referred to ECD, FIN, referral sheet 5
lower
Jan 24, 2024
Committee
Referred to ECD/HET, FIN, referral sheet 1
lower
Jan 22, 2024
Introduced
Introduced and Pass First Reading.
lower
Jan 19, 2024
Introduced
Pending introduction.
lower
7 primary · 0 co-sponsors
Sponsors
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