HI SB2484

Amends Hawaii's estate tax thresholds and rates to capture revenue from residents who will no longer pay federal estate taxes due to increased federal exemptions under the Tax Cuts and Jobs Act (Public Law 115-97).

Creates new estate tax bracket for Hawaii net taxable estates exceeding $10,000,000, with a base tax of $1,385,000 plus 20% of the amount exceeding $10,000,000.

Modifies the top tax bracket for estates between $5,000,000 and $10,000,000, changing the rate to 15.7% (previously applied to estates over $5,000,000 without upper limit).

Revenue from increased estate taxes is intended to support state priorities that the federal government will no longer fund due to reduced federal estate tax revenues.

Takes effect upon approval and applies to decedents dying or taxable transfers occurring after December 31, 2017.