THE SENATE	S.B. NO.	747
THIRTY-FIRST LEGISLATURE, 2021
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to taxation.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Chapter 237, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§237-    Pay disparity surcharge.  (a)  A pay disparity surcharge shall be imposed on each company conducting business in the State whose top executive is paid at least one hundred times more than the median income of company employees.

     (b)  The rate of surcharge shall be assessed at .1 per cent of the company's tax liability imposed pursuant to this chapter."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on July 1, 2021.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Executive Taxation; Pay Disparity; Surcharge

 

Description:

Imposes a pay disparity general excise tax surcharge on any company conducting business in Hawaii whose top executive earns at least one hundred times more than the median income of company employees.

 

 

 

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