Bill > SB3061

This bill mandates that all income tax credits, which are reductions in the amount of tax an individual or business owes, will have a predetermined expiration date, known as a "sunset." Specifically, any income tax credits that are already in effect as of December 31, 2026, will expire on December 31, 2030, meaning they will no longer be available after that date. For any new income tax credits created or existing ones that are renewed after December 31, 2026, they will have a sunset clause of seven years from the date they are established or renewed, unless they fall under specific exceptions, such as section 235-15 or credits listed in part III of chapter 235 of the Hawaii Revised Statutes.

Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=3061&year=2026