RELATING TO THE ESTATE TAX.
Summary
Conforms Hawaiʻi estate tax laws to the operative provisions of the Internal Revenue Code to decrease the burden on taxpayers and increase efficiencies in the Department of Taxation's monitoring and auditing of estate tax returns. Establishes an estate tax deduction for the value of closely held business interests that will help ensure that locally-owned family businesses can continue to contribute to the Hawaiʻi economy and assist families to retain the ownership interest in their family businesses. Effective 7/1/3000. (SD1)
Bill status
passed both
4 of 5 stages cleared
Introduction
Jan 2024
Committee Review
Apr 2024
House Passage
Mar 2024
Senate Passage
Apr 2024
Governor
Introduced Jan 23, 2024
Last action Apr 16, 2024
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
27
Key actions
7
Committee
8
Amendments
2
Apr 11, 2024
Amended
House disagrees with Senate amendment (s).
lower
Apr 9, 2024
Introduced
Returned from Senate (Sen. Com. No. 655) in amended form (SD 1).
lower
Apr 9, 2024
Upper · Passed
Report Adopted; Passed Third Reading. Ayes, 23; Aye(s) with reservations: Senator(s) Shimabukuro. Noes, 2 (Senator(s) Chang, Rhoads). Excused, 0 (none). Transmitted to House.
upper
Apr 5, 2024
Upper · Passed
The committee(s) on WAM recommend(s) that the measure be PASSED, UNAMENDED. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Hashimoto, Inouye, Kanuha, Kim, Lee, Shimabukuro, Wakai; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Kidani, Fevella.
upper
Apr 4, 2024
Upper · Passed
The committee(s) on WAM will hold a public decision making on 04-05-24 10:20AM; CR 211 & Videoconference.
upper
Mar 22, 2024
Committee
Reported from CPN (Stand. Com. Rep. No. 3288) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
upper
Mar 19, 2024
Upper · Passed
The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, Richards; Aye(s) with reservations: Senator(s) McKelvey ; 0 No(es): none; and 1 Excused: Senator(s) Awa.
upper
Mar 8, 2024
Upper · Passed
The committee(s) on CPN has scheduled a public hearing on 03-14-24 9:30AM; CR 229 & Videoconference.
upper
Mar 7, 2024
Committee
Referred to CPN, WAM.
upper
Mar 7, 2024
Introduced
Received from House (Hse. Com. No. 425).
upper
Mar 5, 2024
Lower · Passed
Passed Third Reading with Representative(s) Belatti voting aye with reservations; Representative(s) Ganaden, Hussey-Burdick, Kapela, Kila, Perruso, Poepoe voting no (6) and Representative(s) Cochran, Woodson excused (2). Transmitted to Senate.
lower
Feb 27, 2024
Lower · Passed
The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 15 Ayes: Representative(s) Yamashita, Kitagawa, Chun, Garrett, Kahaloa, Morikawa, Nishimoto, Takenouchi, Alcos, Ward; Ayes with reservations: Representative(s) Aiu, Kila, Kobayashi, Lamosao, Poepoe; Noes: none; and 1 Excused: Representative(s) Cochran.
lower
Jan 26, 2024
Committee
Referred to FIN, referral sheet 3
lower
Jan 24, 2024
Introduced
Introduced and Pass First Reading.
lower
Jan 23, 2024
Introduced
Pending introduction.
lower
2 primary · 0 co-sponsors
Sponsors
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