SB 2042 Hawaii Senate · 2026 Regular Session

RELATING TO INSURANCE.

Summary

Reduces the unimpaired minimum capital and surplus that class 4 sponsored captive insurance companies are required to maintain. Effective 1/1/3000. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

Senate Passage

Feb 2026

House Passage

Governor

Introduced Jan 14, 2026 Last action Feb 6, 2026

Maddy AI version diff · 1 comparison

What changed between versions

SB2042 → SB2042_SD1 · 3 edits

MINOR

The bill was updated from a House version to a Senate committee draft, changing the title sponsor to Amy Vickers and adjusting internal tracking numbers. The most significant policy change is the effective date, which was moved from immediate approval to January 1, 3000, likely indicating a placeholder for future legislation. Additionally, the summary of the bill was updated to include the new effective date in its description.

Scope change

The bill's scope regarding insurance company capital requirements remains the same, but the applicability timeline was drastically altered to a future date.

TIMELINE

The effective date of the Act was changed from 'upon approval' to 'January 1, 3000', suggesting this is a placeholder or draft version.

TECHNICAL

The bill title was updated to include 'SD1' to reflect the Senate Draft 1 version, and the sponsor name was changed to Amy Vickers.

Internal tracking metadata, including revision numbers and template identifiers, were updated to reflect the Senate version.

Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 6, 2026

Upper · Passed

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.

upper

Feb 6, 2026

Committee

Reported from CPN (Stand. Com. Rep. No. 2110) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Jan 29, 2026

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, McKelvey, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Lamosao.

upper

Jan 28, 2026

Upper · Passed

The committee(s) on CPN has rescheduled its public hearing to 01-29-26 10:00AM; CR 229 & Videoconference.

upper

Jan 23, 2026

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 01-29-26 9:31AM; Conference Room 229 & Videoconference.

upper

Jan 22, 2026

Committee

Referred to CPN, WAM.

upper

Jan 21, 2026

Introduced

Introduced and passed First Reading.

upper

Jan 14, 2026

Introduced

Pending Introduction.

upper

4 primary · 0 co-sponsors