HI HB3 | 2021 | Regular Session
Note: Carry Foward to future HB3
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]
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.
Title
Relating To Revenue Generation.
Sponsors
| Rep. Jeanne Kapela [D] | Rep. Ernesto Ganaden [D] | Rep. Matthew Lopresti [D] | Rep. John Mizuno [D] |
| Rep. Mark Nakashima [D] | Rep. Amy Perruso [D] | Rep. Tina Wildberger [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2021-02-02 | House | Re-referred to ECD, HSG, FIN, referral sheet 4 |
| 2021-01-27 | House | Referred to FIN, referral sheet 1 |
| 2021-01-21 | House | Introduced and Pass First Reading. |
| 2021-01-20 | House | Pending introduction. |
Same As/Similar To
HB3 (Carry Over) 2021-02-02 - Re-referred to ECD, HSG, FIN, referral sheet 4
SB56 (Same As) 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22
SB56 (Same As) 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22
Subjects
Capital Gains
Conveyance Tax
Corporate Income Tax
General Excise Tax Exemptions
Personal Income Tax
Revenue Generation
Conveyance Tax
Corporate Income Tax
General Excise Tax Exemptions
Personal Income Tax
Revenue Generation
Hawaii State Sources
| Type | Source |
|---|---|
| Summary | http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=HB&billnumber=3&year=2021 |
| Text | https://www.capitol.hawaii.gov/session2021/bills/HB3_.HTM |
