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HI SB662
Bill
Status
Engrossed
2/22/2021
Primary Sponsor
Gil Keith-agaran
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AI Summary
- Requires all new income tax credits established or renewed after December 31, 2021 to include either a five-year sunset date or a gradual reduction mechanism.
- Credits that do not sunset after five years must include a one-third annual reduction in the allowable credit amount, beginning in the sixth year and lasting for three years.
- Applies to income tax credits under Chapter 235 of the Hawaii Revised Statutes.
- Takes effect on July 1, 2021.
Legislative Description
Relating To Tax Credits.
Sunset
Last Action
Referred to ECD, FIN, referral sheet 17
2/23/2021
Committee Referrals
Economic Development2/23/2021
Ways and Means2/10/2021
Judiciary1/27/2021
Full Bill Text
No bill text available