ThinkTech Hawaii: What’s in the Governor’s Bill Package (Talking Tax)

Broad Tax Relief And.. The hosts for this show are Jay Fidell and Tom Yamachika.

We discuss the signature bills in the Governor’s package, including a bill to give the citizenry broad income tax relief, another bill to enact GET exemptions for groceries and medicine, and a bill containing the ‘Visitor Green Fee.’

We go over the particulars of the Governor’s proposals, designated GOV-01 to GOV-04 and GOV-06, time permitting.

• GOV-01 adds new tax credit for teacher’s expenses. Increases the amounts for the income tax brackets, personal exemption amount and standard deduction amounts.
• GOV-02 is a GET exemption for certain groceries, feminine hygiene products, incontinence products & over the counter drugs.
• GOV-03 establishes the Visitor Green Fee program.
• GOV-04 establishes the Climate Impact Special Fund, allocates five cents per barrel from the barrel tax to the Climate Impact Special Fund.
• GOV-06 is a GET exemption for construction of affordable housing units.