Bill > SB2394

This bill modifies tax laws to establish a Teacher Temporary Hazard Pay Special Fund, which will provide a $20,000 bonus to eligible teachers who were employed between March 4, 2020, and March 25, 2022, to be paid in four installments from June 2027 to June 2030. Specifically, it reclassifies the sale of motor vehicles to rental car companies (lessors) as not being a sale at wholesale, meaning these sales will now be subject to excise tax. The additional tax revenue generated from this change, along with the maximum allowable excise tax on the use of tangible personal property for importing or purchasing these vehicles, will be deposited into the Teacher Temporary Hazard Pay Special Fund from July 1, 2026, until June 30, 2030. After this period, any remaining funds in the special fund will go to the general fund, and future revenue from these transactions will also be deposited into the general fund. The bill defines "lessor" and "rental motor vehicle" for clarity and specifies that the provisions related to the special fund will be repealed on July 1, 2030, with the rest of the act taking effect on the same date.

Transportation and Infrastructure

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2394&year=2026