HI SB3173

Updates Hawaii's income tax conformity to the federal Internal Revenue Code as of December 31, 2023, rather than December 31, 2022, for taxable years beginning after December 31, 2023.

Updates Hawaii's estate and generation-skipping transfer tax conformity to subtitle B of the federal Internal Revenue Code as of December 31, 2023, for decedents dying or transfers occurring after December 31, 2023.

Incorporates specific federal relief provisions from the American Rescue Plan Act (Public Law 117-2), Consolidated Appropriations Act (Public Law 116-260), and CARES Act (Public Law 116-136), including provisions on PPP loans, EIDL advances, charitable contributions, and recovery rebates.

Excludes federal recovery rebate payments from Hawaii gross income, consistent with federal treatment.

Takes effect upon approval, with tax conformity changes effective for taxable years and transfers beginning after December 31, 2023.