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Bill > HB954


HI HB954

Relating To Taxation.


summary

Introduced
01/25/2023
In Committee
04/28/2023
Crossed Over
03/07/2023
Passed
05/02/2023
Dead
Signed/Enacted/Adopted
06/30/2023

Introduced Session

2023 Regular Session

Bill Summary

Increases the amounts for the income tax brackets and personal exemption and standard deduction amounts for tax year 2023. Adjusts annually for tax years beginning after 12/31/2023, the income tax brackets and personal exemption, and standard deduction amounts by a cost-of-living adjustment factor. Amends the taxable income brackets and income tax rates for each filing status for taxable years beginning after 12/31/2022. Defines "cost of living adjustment factor". (SD2)

AI Summary

This bill increases the amounts for the income tax brackets and personal exemption and standard deduction amounts for tax year 2023. It adjusts these amounts annually for tax years beginning after December 31, 2023, based on a cost-of-living adjustment factor. The bill also amends the taxable income brackets and income tax rates for each filing status for taxable years beginning after December 31, 2022.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (41)

Micah Aiu (D)* Terez Amato (D)* Della Belatti (D)* Cory Chun (D)* Elle Cochran (D)* Rachele Fernandez Lamosao (D)* Sonny Ganaden (D)* Andrew Garrett (D)* Cedric Gates (D)* Mark Hashem (D)* Troy Hashimoto (D)* Daniel Holt (D)* Natalia Hussey-Burdick (D)* Linda Ichiyama (D)* Greggor Ilagan (D)* Kirstin Kahaloa (D)* Jeanné Kapela (D)* Darius Kila (D)* Lisa Kitagawa (D)* Bert Kobayashi (D)* Nicole Lowen (D)* Lisa Marten (D)* Rose Martinez (D)* Scot Matayoshi (D)* John Mizuno (D)* Dee Morikawa (D)* Nadine Nakamura (D)* Scott Nishimoto (D)* Richard Onishi (D)* Amy Perruso (D)* Mahina Poepoe (D)* Sean Quinlan (D)* Scott Saiki (D)* Jackson Sayama (D)* Gregg Takayama (D)* Jenna Takenouchi (D)* Adrian Tam (D)* David Tarnas (D)* Chris Todd (D)* Justin Woodson (D)* Kyle Yamashita (D)*

Last Action

Act 163, 06/30/2023 (Gov. Msg. No. 1266). (on 06/30/2023)

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