HI SB56 | 2021 | Regular Session
Note: Carry Foward to future SB56
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on March 9 2021 - 50% progression, died in committee
Action: 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22
Pending: House Economic Development Committee
Text: Latest bill text (Amended) [HTML]
Status: Engrossed on March 9 2021 - 50% progression, died in committee
Action: 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22
Pending: House Economic Development Committee
Text: Latest bill text (Amended) [HTML]
Summary
Increases the personal income tax rate 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 6/30/2023, temporarily repeals certain general excise tax exemptions. Increases conveyance taxes for the sale of properties valued at $4,000,000 or greater. (SD1)
Title
Relating To Revenue Generation.
Sponsors
Roll Calls
2021-03-04 - Senate - Senate Ways and Means: Passed, With Amendments (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2021-03-11 | House | Referred to ECD, HSG, CPC, FIN, referral sheet 22 |
| 2021-03-11 | House | Pass First Reading |
| 2021-03-09 | House | Received from Senate (Sen. Com. No. 146) in amended form (SD 1). |
| 2021-03-09 | Senate | Passed Third Reading, as amended (SD 1). Ayes, 24; Aye(s) with reservations: Senator(s) Ihara. Noes, 1 (Senator(s) Riviere). Excused, 0 (none). Transmitted to House. |
| 2021-03-05 | Senate | 48 Hrs. Notice 03-09-21. |
| 2021-03-05 | Senate | Report adopted; Passed Second Reading, as amended (SD 1). |
| 2021-03-05 | Senate | Reported from WAM (Stand. Com. Rep. No. 764) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading. |
| 2021-03-04 | Senate | The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, English, Inouye, Kanuha, Kidani, Moriwaki, Shimabukuro, Taniguchi, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none. |
| 2021-03-04 | Senate | The committee(s) on WAM deferred the measure until 03-04-21 1:51PM; CR 211 & Videoconference. |
| 2021-03-02 | Senate | The committee(s) on WAM deferred the measure until 03-04-21 10:05AM; CR 211 & Videoconference. |
| 2021-02-26 | Senate | The committee(s) on WAM has scheduled a public hearing on 03-02-21 9:25AM; CR 211 & Videoconference. |
| 2021-01-22 | Senate | Referred to WAM. |
| 2021-01-21 | Senate | Passed First Reading. |
| 2021-01-21 | Senate | Introduced. |
Same As/Similar To
SB56 (Carry Over) 2021-03-11 - Referred to ECD, HSG, CPC, FIN, referral sheet 22
HB3 (Same As) 2021-02-02 - Re-referred to ECD, HSG, FIN, referral sheet 4
HB3 (Same As) 2021-02-02 - Re-referred to ECD, HSG, FIN, referral sheet 4
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
