SB 56 Hawaii Senate · 2021 Regular Session

RELATING TO REVENUE GENERATION.

Summary

Increases the personal income tax rate for high earners for taxable years beginning after 12/31/2020. Increases the tax on capital gains. Increases the corporate income tax and establishes a single corporate income tax rate. From 7/1/2021 through 6/30/2023, temporarily repeals certain general excise tax exemptions. Increases conveyance taxes for the sale of properties valued at $4,000,000 or greater. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2021

Committee Review

Mar 2021

Senate Passage

Mar 2021

House Passage

Governor

Introduced Jan 21, 2021 Last action Mar 11, 2021

Floor votes · Senate Mar 9, 2021

How they voted

24–1

Passed

Total votes 25

Mar 9, 2021

D Democratic24

23 Yea 1 Nay

95% Yea

R Republican1

1 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 11, 2021

Committee

Referred to ECD, HSG, CPC, FIN, referral sheet 22

lower

Mar 9, 2021

Introduced

Received from Senate (Sen. Com. No. 146) in amended form (SD 1).

lower

Mar 9, 2021

Upper · Passed

Passed Third Reading, as amended (SD 1). Ayes, 24; Aye(s) with reservations: Senator(s) Ihara. Noes, 1 (Senator(s) Riviere). Excused, 0 (none). Transmitted to House.

upper

Mar 4, 2021

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, English, Inouye, Kanuha, Kidani, Moriwaki, Shimabukuro, Taniguchi, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Mar 4, 2021

Upper · Passed

The committee(s) on WAM deferred the measure until 03-04-21 1:51PM; CR 211 & Videoconference.

upper

Mar 2, 2021

Upper · Passed

The committee(s) on WAM deferred the measure until 03-04-21 10:05AM; CR 211 & Videoconference.

upper

Feb 26, 2021

Upper · Passed

The committee(s) on WAM has scheduled a public hearing on 03-02-21 9:25AM; CR 211 & Videoconference.

upper

Jan 22, 2021

Committee

Referred to WAM.

upper

Jan 21, 2021

Introduced

Introduced.

upper

1 primary · 0 co-sponsors