Category Archives: Net Income (HRS 235)

SB 3077, CD-1

SUBJECT:  INCOME, Make Renewable Fuels Production Credit Permanent, Increase Cap, Apply to More Types of Biofuel

BILL NUMBER:  SB 3077, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases the renewable fuel production tax credit cap to $3,500,000 and makes the tax credit permanent. A direct appropriation would be preferable as it would provide some accountability for the taxpayer funds being utilized to support this effort.  Meaning, we as taxpayers know what we’re getting and we know how much we’re paying for it.

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SB 2821, CD-1

SUBJECT:  INCOME, ESTATE, Conformity to Internal Revenue Code

BILL NUMBER:  SB 2821, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Conforms the Hawaii income tax and estate and generation-skipping transfer taxes to federal changes adopted through February 9, 2018.  Decouples from the federal Tax Cuts and Jobs Act in several key areas.

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SB 2298, CD-1

SUBJECT:  INCOME, Healthcare Preceptor Tax Credits

BILL NUMBER:  SB 2298, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  This bill provides a credit for doctors who teach other doctors.  It is much simpler and much less expensive in administrative costs for the preceptor credit assurance committee, or the agency to which it is attached, to cut a check to any qualifying physician.

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HB 2354, CD-1

SUBJECT:  INCOME, Increase Tax Checkoff for Libraries

BILL NUMBER:  HB 2354, CD-1

INTRODUCED BY:  Conference Committee

EXECUTIVE SUMMARY:  Increases from $2 to $5 the amount of authorized income tax check-off that may be designated payable from an individual’s state income tax refund to the libraries special fund. Permits designation of check-off in the amount of $4 or $10 to the library special fund. Effective for taxable years after December 31, 2017.  A direct appropriation to the libraries would increase transparency and accountability.

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HB 2703, HD-1, SD-1

SUBJECT:  CONVEYANCE, INCOME, Earmark Conveyance Tax to Feed Rental Assistance Revolving Fund, Make EITC Refundable, Increase Low-Income Household Renters Credit

BILL NUMBER:  HB 2703, HD-1, SD-1

INTRODUCED BY:  Senate Committee on Housing

EXECUTIVE SUMMARY: (1) Allocates a portion of the conveyance tax revenues to the rental assistance revolving fund to be used to subsidize rents for persons who meet certain income requirements; (2) Increases the income tax credit for low-income household renters to an unspecified amount; and (3) Makes the state earned income tax credit refundable and changes the amount of the credit to an unspecified percentage of the federal earned income tax credit.

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