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HI SB1043

Bill

Official Source

Status

Engrossed

3/4/2025

Primary Sponsor

Jarrett Keohokalole

Click for details

Origin

Senate

2025 Regular Session

AI Summary

  • Reduces the general excise tax rate on nonprescription drugs to one half of the rate imposed under section 237-13(9)
  • Applies the reduced rate to all gross proceeds or gross income received from the sale of nonprescription drugs
  • Defines "nonprescription drug" using the same meaning as in section 328-1 of Hawaii Revised Statutes
  • Effective date is July 1, 3000
  • Intends to reduce the disproportionate impact of excise taxes on low- and moderate-income families while maintaining state revenue needs

Legislative Description

Relating To Taxation.

General Excise Tax

Last Action

Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Ward excused (2).

3/19/2025

Committee Referrals

Finance3/19/2025
Economic Development3/6/2025
Ways and Means2/14/2025
Health and Human Services1/23/2025

Full Bill Text

No bill text available