SUBJECT: GENERAL EXCISE, Conform Fundraising Income to Federal UBIT Definition
BILL NUMBER: SB 667 HD 1
INTRODUCED BY: House Committee on Economic Development
EXECUTIVE SUMMARY: Clarifies the application of the general excise tax law with regard to gross income derived from unrelated trade or business activities of nonprofit organizations. Continue reading SB 667 HD 1
SUBJECT: FUEL, MISCELLANEOUS, MOTOR VEHICLE, New Road Usage Charge for Electric Vehicles
BILL NUMBER: SB 1534 HD 1
INTRODUCED BY: House Committee on Transportation
EXECUTIVE SUMMARY: Creates a mileage-based road usage charge to replace state motor fuel taxes beginning on July 1, 2025, for electric vehicles. Eliminates $50 annual state vehicle registration surcharge for electric vehicles. Allows electric vehicles a choice of paying a registration surcharge or a per-mile road usage charge until June 30, 2028. Requires motor vehicle registration application to specify whether the type of fuel for which the vehicle is adapted is electricity. Requires certificates of inspection to state the odometer reading of vehicles. Requires the department of transportation to plan for the deployment of a state mileage-based road user charge program by 2033 and submit a report to the legislature no later than twenty days prior to the convening of the regular session of 2026. Defines electric vehicle. Defines alternative fuel vehicle. Makes an appropriation. Continue reading SB 1534 HD 1
SUBJECT: TOBACCO, Include Electronic Smoking Devices, Hike Fees
BILL NUMBER: SB 975 HD 1
INTRODUCED BY: House Committee on Health & Homelessness
EXECUTIVE SUMMARY: Includes electronic smoking devices and e-liquids under the definition of “tobacco products” for purposes of the cigarette tax and tobacco tax law. Exempts electronic smoking devices and e-liquids from the excise tax on all tobacco products other than large cigars. Beginning 1/1/2024, imposes an excise tax on each electronic smoking device or e-liquid sold, used, or possessed by a wholesaler or dealer effective. Repeals the electronic smoking device retailer registration unit under the department of the attorney general. Continue reading SB 975 HD 1
SUBJECT: INCOME, Pass-through Entity Tax Election
BILL NUMBER: SB 1437 SD 1
INTRODUCED BY: Senate Committee on Ways and Means
EXECUTIVE SUMMARY: Authorizes certain pass-through entities to elect to pay Hawaiʻi income tax at the entity level. Continue reading SB 1437 SD 1
SUBJECT: INCOME, Tax Credit for Research Activities; Requirements; Survey; Certification; Caps
BILL NUMBER: SB 951 SD 2
INTRODUCED BY: Senate Committee on Ways and Means
EXECUTIVE SUMMARY: Adds a cap for the amount of tax credits for research activities that an eligible taxpayer and the taxpayer’s related entities may receive per taxable year. Consolidates the survey and certification requirements for tax credits for research activities. Amends the annual aggregate cap on tax credits for research activities that the Department of Business, Economic Development, and Tourism may certify. Requires certification of the tax credits for research activities on a first-come, first-served basis to be based on the date that a complete application is received, subject to certain conditions. Extends from December 31, 2024 to December 31, 2029, the sunset date for tax credits for research activities. Continue reading SB 951 SD 2
SUBJECT: INCOME, Qualified Internship Tax Credit
BILL NUMBER: SB 801 SD 2
INTRODUCED BY: Senate Committee on Ways and Means
EXECUTIVE SUMMARY: Establishes a qualified internship income tax credit for employers of qualified interns. Requires qualified internships to fulfill requirements of the Department of Education and University of Hawaiʻi work-based learning programs. Provides an application and certification process for claims of credits to be administered by the Department of Labor and Industrial Relations. Requires reports to the Legislature from the Department of Taxation and Department of Labor and Industrial Relations. Continue reading SB 801 SD 2
SUBJECT: INCOME, Motion Picture, Digital Media, and Film Production Income Tax Credit; Opportunity to Cure Deficiencies
BILL NUMBER: SB 795 SD 2
INTRODUCED BY: Senate Committee on Ways and Means
EXECUTIVE SUMMARY: Relaxes the current requirement that a production comply with “all applicable requirements” under the tax laws to “provide evidence of reasonable efforts to comply.” Requires taxpayers be given notice and an opportunity to cure requirements for the motion picture, digital media, and film production income tax credit. Continue reading SB 795 SD 2
SUBJECT: INCOME, Exclude deferred compensation retirement plan income for taxpayers earning less than $30,000 single / $60,000 joint.
BILL NUMBER: SB 597 SD 1
INTRODUCED BY: Senate Committee on Labor and Technology
EXECUTIVE SUMMARY: For lower income individuals, excludes income received from deferred compensation plans including IRAs, 401(k), and 403(b) plans. Continue reading SB 597 SD 1
SUBJECT: INCOME, Disallows Home Mortgage Interest Deduction for Second Homes
BILL NUMBER: SB 924 HD 1
INTRODUCED BY: House Committee on Housing
EXECUTIVE SUMMARY: Eliminates the home mortgage interest deduction for second homes under Hawaiʻi income tax law. Continue reading SB 924 HD 1
SUBJECT: INCOME, Child Tax Credit Payable on a Monthly Basis
BILL NUMBER: HB 233 HD 2
INTRODUCED BY: House Committee on Finance
EXECUTIVE SUMMARY: Establishes a refundable state child tax credit payable on a monthly basis. Continue reading HB 233 HD 2