HawaiiRELATING TO TAXATION.
What it does
Exempts the sale of groceries and nonprescription drugs from the general excise tax. Incrementally increases the general excise tax over four years, with the increased proceeds during certain fiscal years to be deposited into the general fund. Removes the state income tax on unemployment compensation benefits.
More detail
Doubles the standard deduction for individuals earning less than $100,000 and joint returns earning less than $200,000. Repeals the incremental increases on standard income tax deduction amounts. Increases the minimum income threshold and exemption amount for the low-income household renters' income tax credit. Removes the tax liability for the first $100,000 of individual income earned. Establishes the Maui Recovery Special Fund to be used for recovery programs related to the 2023 Maui wildfires. Appropriates funds. Applies to taxable years beginning after 12/31/2024.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 7The committee(s) on ECD recommend(s) that the measure be deferred.Latest
- Feb 4Bill scheduled to be heard by ECD on Friday, 02-07-25 10:15AM in House conference room 423 VIA VIDEOCONFERENCE.
- Jan 23Introduced and Pass First Reading.Minor
- Jan 23Referred to ECD, FIN, referral sheet 3Minor
- Jan 21Pending introduction.Introduced