SB 2362 would eliminate a specific tax deduction for real estate investment trusts (REITs), requiring them to pay taxes on dividends they distribute to shareholders instead of deducting those payments. This change directly affects REITs, which are companies that own and operate real estate properties and typically rely on this deduction to reduce taxable income. The key provision removes the "dividends paid deduction" from the tax code, meaning REITs would no longer be able to subtract their dividend payments from their taxable earnings. This policy change would increase the tax burden on REITs without altering their operational structure.
Requires the Department of Education to implement financial literacy instruction into existing courses in public high schools that have sufficient overlap with financial literacy program standards beginning in the 2027-2028 school year. Requires the Board of Education to provide professional development to teachers. Authorizes the Board of Education to adopt rules. Appropriates funds. (SD1)
Requires the Statewide Office on Homelessness and Housing Solutions to develop and implement a plan to reduce the State's total homeless population by at least twenty-five per cent by 1/1/2028, measured against the 2026 point-in-time count. Requires any funding request by the Office after fiscal year 2026-2027 to be based on the plan. Requires the appointment of the Coordinator on Homelessness to be subject to the advice and consent of the Senate. Appropriates funds to the Department of Human Services for the funding of the Homeless Outreach and Navigation for Unsheltered Persons Program under the Ohana Zones Program, and for the expenses of the Statewide Office on Homelessness and Housing Solutions. Appropriates funds to the University of Hawaii to conduct a survey on statewide homelessness. (SD1)
SB 2935 exempts sales of feminine hygiene products from the general excise tax, meaning manufacturers and retailers selling these items will not pay this tax on the income from those sales. The exemption directly affects businesses that sell products like tampons, pads, and menstrual cups. The bill takes effect on January 30, 2050, and would remove a tax burden currently applied to these essential health products. This change is a specific policy adjustment to the tax code, not a broader health or funding measure.
Authorizes the issuance of $15 million in general obligation bonds to finance the planning, design, and construction of a 50,000 square foot aerospace hangar and related facilities at Hilo international airport. Requires matching contributions from the federal government and private sector. Directs appropriation to be expended by the Department of Transportation. Requires a report to the Legislature. Effective 7/1/2050. (SD1)
Exempts from the general excise tax, gross receipts from the sale of hearing aids received by a hospital, infirmary, medical clinic, health care facility, pharmacy, or a practitioner licensed to administer drugs to an individual. Effective 1/30/2050. Implementation effective 1/1/2027. (SD1)
Requires the Department of Transportation to establish a Clean Vehicle Rebate Program to provide rebates for the purchase or lease of certain new and used zero-emission vehicles and plug-in hybrid electric vehicles. Establishes the Clean Vehicle Special Fund. Requires an annual report to the Legislature. Appropriates funds. Effective 1/1/2027. (SD1)
Appropriates funds to increase the funding for Medicaid in-home services, conditioned on the Department of Human Services obtaining the maximum federal matching funds. Effective 7/1/2050. (SD1)
Creates an alternative water source income tax credit for taxpayers who install, place in service, or repair a water catchment system or who purchase water delivery services. Applicable to taxable years beginning after 12/31/2026. Effective 12/31/2050. (SD1)
Expands the general excise tax exemption established by Act 47, Session Laws of Hawaii 2024, to include amounts received by optometrists, audiologists, and chiropractors, for healthcare-related goods or services purchased under the Medicare, Medicaid, and TRICARE programs.