Hawaii Revised Statutes 209E-13 – Termination of enterprise zone
Terms Used In Hawaii Revised Statutes 209E-13
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 209E-2
- Enterprise zone: means an area nominated by, and within the jurisdiction of, a county government, and subsequently declared by the governor to be eligible for the benefits of this chapter. See Hawaii Revised Statutes 209E-2
- Qualified business: means any corporation, partnership, limited liability company, or sole proprietorship authorized to do business in the State that is qualified under section 209E-9, subject to the state corporate or individual income tax under chapter 235, and is engaged in an eligible business activity as defined in this chapter. See Hawaii Revised Statutes 209E-2
Upon designation of an area as an enterprise zone, the proposals for regulatory flexibility, tax incentives, and other public incentives specified in this chapter shall be binding upon the county governing body to the extent and for the period of time specified in the application for zone designation. If the county governing body is unable or unwilling to provide any of the incentives set forth in § 209E-12 or other incentives acceptable to the department, the enterprise zone shall terminate. Qualified businesses located in the enterprise zone shall be eligible to receive the state tax incentives provided by this chapter even though the zone designation has terminated. No business may become a qualified business after the date of zone termination. The county governing body may amend its application with the approval of the department; provided the county governing body proposes an incentive equal to or superior to the unamended application.