Loading chat...

HI SB662

Bill

Status

Engrossed

2/22/2021

Primary Sponsor

Gil Keith-agaran

Click for details

Origin

Senate

2021 Regular Session

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