HI SB2600

Implements Article VII, Section 6 of the Hawaii State Constitution requiring disposal of excess general fund revenues after conditions have been met for two successive fiscal years

Creates a refundable income tax credit for resident individual taxpayers for the 2026 taxable year, multiplied by the number of qualified exemptions claimed (dollar amount not specified in bill text)

Requires claimants to have been Hawaii residents for at least nine months; excludes individuals incarcerated for the full taxable year and those claimed as dependents by other taxpayers

Appropriates unspecified amounts to the emergency and budget reserve fund and the other post-employment benefits trust fund for fiscal year 2026-2027

Takes effect July 1, 2050, with the tax credit provisions applying to taxable years beginning after December 31, 2025