HB 1458 Summary

• Subjects major social media platforms to Hawaii's state corporate income tax on advertising revenue derived from content created in Hawaii or audiences located in Hawaii.

• Defines "major social media platform" as online platforms with over one million active U.S. users that earn revenue primarily from advertising and collect data from Hawaii-based users.

• Establishes the Broadband and Digital Equity Special Fund to receive revenues from the tax, administered by the Department of Business, Economic Development, and Tourism.

• Allocates revenues from the fund to expand broadband access initiatives and support local journalism programs.

• Takes effect on July 1, 2025, with appropriations available for fiscal years 2025-2026 and 2026-2027.