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Bill > SB981


HI SB981

Relating To The Department Of Business, Economic Development, And Tourism.


summary

Introduced
01/17/2025
In Committee
02/10/2025
Crossed Over
Passed
Dead

Introduced Session

2025 Regular Session

Bill Summary

Requires the Research and Economic Analysis Division of the Department of Business, Economic Development, and Tourism to study the impacts of the incremental minimum wage increases pursuant to Act 114, Session Laws of Hawaii 2022, on businesses and other employers. Requires a report to the Legislature. Appropriates funds. Effective 7/1/2050. (SD1)

AI Summary

This bill requires the Research and Economic Analysis Division of Hawaii's Department of Business, Economic Development, and Tourism to conduct a comprehensive study on the impacts of minimum wage increases implemented under Act 114 from 2022. The study will specifically examine the number of businesses subject to Hawaii Revised Statutes section 387-2 that have been affected by these wage increases, including analyzing how many businesses closed or shut down due to increased labor costs and identifying other contributing factors to these closures. Additionally, the division will perform comparative research on other states with higher minimum wage rates, studying the impacts on their businesses and employers. The division must submit a detailed report with findings and recommendations, including potential legislative proposals, to the legislature no later than twenty days before the 2026 regular legislative session. The bill appropriates an unspecified amount of general state revenues to fund this study for fiscal year 2025-2026, with the funds to be managed by the Department of Business, Economic Development, and Tourism. The act is set to take effect on July 1, 2050.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (7)

Last Action

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. (on 02/10/2025)

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