summary
Introduced
01/19/2024
01/19/2024
In Committee
01/24/2024
01/24/2024
Crossed Over
Passed
Dead
05/03/2024
05/03/2024
Introduced Session
2024 Regular Session
Bill Summary
Requires that income tax credits established or renewed after 12/31/2024 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, 2024, must either have a five-year sunset date or, beginning in the sixth year, undergo an annual one-third reduction in the credit amount over a three-year period. This is intended to provide a regular review and potential phasing out of tax credits to ensure they remain effective and serve their intended purpose.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
The committee(s) on FIN recommend(s) that the measure be deferred. (on 02/21/2024)
Bill Topics
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=HB&billnumber=1804&year=2024 | 01/18/2024 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2024/bills/HB1804_.HTM | 01/18/2024 |
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