Establishes a tax credit program to support interisland air service in Hawaii.
The bill establishes a Hawaii interisland air service stability and transformation program to be administered by the Department of Taxation. It requires covered interisland air service operators to issue an equity interest to the State as a condition of participation. The program aims to support interisland air service reliability, capacity, and safety, and to anchor high-wage aviation jobs in the State. The bill establishes the interisland air service stability and transformation tax credit, allowing eligible taxpayers to claim a credit for qualified interisland expenditures.
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