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HI HB2175
Bill
Status
1/26/2022
Primary Sponsor
Scott Saiki
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AI Summary
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Updates Hawaii income tax conformity to the federal Internal Revenue Code as amended through December 31, 2021 (previously conformed through December 31, 2020)
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Makes operative specific provisions of federal relief legislation including targeted EIDL advances, restaurant revitalization grants, PPP loan forgiveness, and charitable contribution modifications from Public Laws 116-136, 116-260, and 117-2
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Excludes 2021 recovery rebates to individuals from gross income for Hawaii tax purposes
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Updates Hawaii estate and generation-skipping transfer tax conformity to subtitle B of the federal Internal Revenue Code as amended through December 31, 2021
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Applies to taxable years beginning after December 31, 2021, with an exception allowing tax-favored retirement plan withdrawals to apply retroactively to taxable years beginning after December 31, 2019
Legislative Description
Relating To Conformity To The Internal Revenue Code.
Income Tax
Last Action
Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) McKelvey excused (1).
2/15/2022