HI HB3 | 2021 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on January 21 2021 - 25% progression, died in committee
Action: 2021-02-02 - Re-referred to ECD, HSG, FIN, referral sheet 4
Pending: House Economic Development Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Increases the personal income tax rate and implements a rate recapture mechanism that phases out lower tax brackets for high earners for taxable years beginning after 12/31/2020. Increases the tax on capital gains. Increases the corporate income tax and establishes a single corporate income tax rate. From 7/1/2021 through 6/30/23, temporarily repeals certain general excise tax exemptions. Increases conveyance taxes for the sale of properties valued at $1,000,000 or greater.

Tracking Information

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Title

Relating To Revenue Generation.

Sponsors


History

DateChamberAction
2021-02-02HouseRe-referred to ECD, HSG, FIN, referral sheet 4
2021-01-27HouseReferred to FIN, referral sheet 1
2021-01-21HouseIntroduced and Pass First Reading.
2021-01-20HousePending introduction.

Same As/Similar To

SB56 (Same As) 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22

Subjects


Hawaii State Sources


Bill Comments

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