Bill > HB2141

This bill aims to expand the State Enterprise Zones program, which offers tax incentives to businesses in designated areas to stimulate economic growth. Key provisions include increasing the number of enterprise zones each county can nominate from six to eight, and allowing census tracts containing the University of Hawaii John A. Burns School of Medicine and the University of Hawaii Cancer Center to be designated as enterprise zones. Furthermore, businesses not physically located within an enterprise zone can now qualify for these benefits if they enter into a binding agreement with a business situated in a qualifying census tract near the medical and cancer research centers, and these "affiliated collaborators" will be eligible for benefits for up to seven years, specifically for income, receipts, and payroll directly tied to their collaboration. The bill also broadens the definition of "eligible business activity" to include medical and health care services, and research and development in aerospace technology and information technology design and production.