Sets the amount of conveyance tax revenues to be paid into the Land Conservation Fund to a certain per cent or monetary cap, whichever is less, of conveyance taxes collected each fiscal year. Effective 7/1/3000. (HD1)
Establishes an online fantasy sports contests registration and monitoring program under the Department of the Attorney General. Imposes an online fantasy sports contests tax on the gross revenues of registrants. Establishes the Online Fantasy Sports Contests Special Fund and allocates proceeds of the fund to the Lahaina community recovery efforts. Exempts registered online fantasy sports contests from state gambling laws. Appropriates funds.
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.
HB 2444 increases the state tax credit available to low-income household renters, raising the amount from $50 to $100 for each tax exemption claimed by the taxpayer. This change directly affects renters who qualify as low-income and claim tax exemptions, providing them with greater financial relief through their state tax return. The key provision is the specific dollar amount increase per exemption, making the credit more substantial for eligible households. The bill does not alter eligibility criteria or introduce new administrative requirements.
Appropriates $500,000, for each year of the fiscal biennium to the department of corrections and rehabilitation to procure a new software for electronic record keeping of medical records. Requires a report to the legislature.
Authorizes each county that has established a surcharge on state tax before 7/1/2015 to extend the surcharge until 12/31/2045, at the same rates, if the county does so before 1/1/2028. Provides that no county surcharge on state tax authorized for a county that has not established a surcharge on state tax before 7/1/2015, shall be levied before 1/1/2019, or after 12/31/2045. Repeals certain conditions on the use of surcharges for housing infrastructure costs. Effective 5/13/2040. (SD1)
Requires corporations to include the income of all foreign subsidiaries to the State. Applies the State's apportionment formula to determine the share of reported profits subject to the appropriate tax. Effective 1/1/2026.
This bill directs a specific amount of money from the state's General Fund into the Emergency and Budget Reserve Fund. The transfer is required by Article VII, Section 6 of the Hawaii State Constitution, which mandates these deposits to help stabilize the state's finances during economic downturns. The measure does not create new spending or alter existing programs but rather moves existing funds to a reserve account. It affects the state's overall budget management by ensuring that money is set aside for future financial needs.
The provided context does not include sufficient details to summarize SB 54's specific provisions, mechanisms, or affected parties. The bill title and abstract mention adopting an "Interstate Compact to Phase Out Corporate Welfare," but no concrete policy changes, affected entities, or implementation details are described in the available information. Without additional text explaining the compact's requirements or scope, a factual summary cannot be generated. The recent procedural actions (e.g., referral to committees) do not clarify the bill's substance.
Authorizes a county with a pre-existing surcharge to continue the surcharge after December 31, 2030, at a lower rate of one-fourth per cent. Authorizes counties that have not adopted a surcharge ordinance on state tax to adopt a surcharge ordinance at the current rate of one-half of one per cent through December 31, 2030, and at a rate of one-fourth of one per cent after December 31, 2030. Expands the authorized use of surcharge revenues to more than capital costs of a locally preferred alternative for a mass transit project for counties with a population greater than five hundred thousand.
