Bill > SB2920

This bill amends existing Hawaii Revised Statutes related to general excise tax and use tax exemptions, primarily by removing certain exemptions and adjusting references to specific tax code sections. It removes exemptions for vessels constructed under commercial fishing vessel loan programs prior to July 1, 1969, and for amounts received by exchanges or exchange members from various transaction fees, dues, and listing fees. The bill also updates cross-references within tax code sections, such as changing references from section 238-3(i) to 238-3(h) for sales or use tax credits and offsets, and renumbers other subsections within section 238-3. Additionally, it repeals section 237-24.5, which provided exemptions for exchanges and their members. The bill takes effect on July 1, 2026.

Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2920&year=2026