Hawaii Revised Statutes 209E-14 – Force majeure event; agricultural businesses
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If a business engaged in agricultural production or processing is:
Terms Used In Hawaii Revised Statutes 209E-14
- Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 209E-2
- Force majeure event: means an event, including damaging weather or natural disasters such as epidemic disease, pest outbreak, high wind, thunderstorm, hailstorm, tornado, fire, flood, earthquake, lava flow or other volcanic activity, drought, tidal wave, hurricane, or without limiting or restricting the foregoing in any way, any event reasonably beyond the control of, and not attributable to neglect by, an agricultural business. 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
by reason of or through any force majeure event, then the business shall not be disqualified under this chapter. The business shall remain eligible for all tax incentives under this chapter during any period of time while experiencing conditions under paragraph (1) or (2) caused by a force majeure event, and the seven-year eligibility period shall be extended by an equivalent period of time. The business shall be as prompt and diligent as practicable in providing the department with notice of a force majeure event or of any situation that may lead to a force majeure event.