Hawaii 2023 Regular Session

Hawaii Senate Bill SB801

Introduced
1/20/23  
Refer
1/27/23  
Report Pass
2/15/23  
Refer
2/15/23  
Report Pass
3/3/23  
Engrossed
3/7/23  
Refer
3/9/23  
Report Pass
3/24/23  

Caption

Relating To Qualified Internships Tax Credit.

Impact

With the introduction of SB801, state law will recognize qualified internships as a viable route for enhancing the practical experience of students in Hawaii. By providing financial incentives to employers, particularly small to medium-sized businesses, the bill seeks to mitigate challenges these employers face in hiring and retaining interns. The legislation mandates that these internships adhere to standards set by the Department of Education and the University of Hawaii, thereby ensuring a structured framework that reflects educational objectives while also benefitting local enterprises.

Summary

SB801 establishes a qualified internship tax credit in Hawaii aimed at incentivizing local businesses to employ interns. The bill proposes that taxpayers can receive a tax credit for hiring qualified interns, which serves to reduce their net income tax liability. This initiative is designed to increase the availability of work-based learning opportunities for students, particularly those enrolled in education institutions who are seeking practical experience before graduation. The credit amount is based on wages paid for a specified number of hours worked by interns, with certain eligibility conditions established to ensure proper utilization of the credit.

Sentiment

The sentiment around SB801 appears generally positive, especially among lawmakers advocating for educational pathways leading to employment opportunities. Proponents argue that the bill not only supports student engagement with relevant industry experience but also stimulates economic growth by enabling employers to cultivate a skilled future workforce. However, there may be some skepticism regarding the implementation and success of the program, particularly concerning its effectiveness in truly increasing intern positions without overwhelming administrative burden.

Contention

One notable point of contention raised during discussions of SB801 revolves around the efficacy and funding of the tax credits. Critics may argue about whether the anticipated outcomes—more internships and better student employment prospects—will materialize as intended. Additionally, provisions related to fiscal appropriations for the administration of the program could spark debate regarding their adequacy and impact on state resources. The effectiveness of the reporting mechanisms established by the bill will also be scrutinized, as it establishes a necessary accountability structure to evaluate the tax credit's impact on fostering work-based learning.

Companion Bills

No companion bills found.

Similar Bills

HI SB801

Relating To Qualified Internships Tax Credit.

CO HB1018

Timber Industry Incentives

HI HB430

Relating To Internships.

HI HB399

Relating To Tax Credits.

HI HB399

Relating To Tax Credits.

HI SB327

Relating To Internships.

HI HB2575

Relating To Construction Workforce Development.

HI SB3271

Relating To Construction Workforce Development.