summary
Introduced
01/20/2023
01/20/2023
In Committee
01/27/2023
01/27/2023
Crossed Over
Passed
Dead
05/03/2024
05/03/2024
Introduced Session
2023 Regular Session
Bill Summary
Requires that income tax credits established or renewed after 12/31/2023 include a five-year sunset or an annual one-third reduction beginning with the sixth year of the credit.
AI Summary
This bill requires that any income tax credits established or renewed in Hawaii after December 31, 2023, either have a five-year sunset date or a gradual reduction of one-third of the credit amount each year starting in the sixth year. This is intended to add a periodic review of the effectiveness of tax credits, rather than having them continue indefinitely.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Carried over to 2024 Regular Session. (on 12/11/2023)
Bill Topics
Government Operations
- ‐ Government Efficiency and Bureaucratic Oversight
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1117&year=2024 | 01/17/2024 |
| State Bill Page | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1117&year=2023 | 01/21/2023 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB1117_.HTM | 01/17/2024 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2023/bills/SB1117_.HTM | 01/21/2023 |
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