Establishes an interisland produce shipping tax credit to alleviate the costs of interisland shipping for farmers and ranchers.

The bill establishes an interisland produce shipping tax credit to alleviate the costs of interisland shipping for farmers and ranchers. Qualified taxpayers can claim a tax credit against their Hawaii state individual or corporate net income tax. The Department of Agriculture certifies the credit amount, while the Department of Taxation may audit certifications. The credit amount is limited to a specified total per taxable year, with portions allocated to farmers, food hubs, and broad line distributors.

Establishes an interisland produce shipping tax credit to alleviate the costs of interisland shipping for farmers and ranchers.

The bill establishes an interisland produce shipping tax credit to alleviate the costs of interisland shipping for farmers and ranchers. Qualified taxpayers can claim a tax credit against their Hawaii state individual or corporate net income tax. The Department of Agriculture certifies the credit amount, while the Department of Taxation may audit certifications. The credit amount is limited to a specified total per taxable year, with portions allocated to farmers, food hubs, and broad line distributors.