Budget & Taxes (Business Taxes)

passed · Hawaii · Senate Dec 8, 2025

SB 313: RELATING TO A WEALTH ASSET TAX.

Beginning January 1, 2030, establishes a wealth asset tax of one per cent of the state net worth of each individual taxpayer who holds $20,000,000 or more in assets in the State. Effective 4/23/2057. (SD1)

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes new tax on ultra-wealthy ($20M+ assets) to generate state revenue, aligning with fiscal responsibility and funding mechanisms.95% confidence

Sub-Topics Business Taxes

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passed both · Hawaii · Senate Apr 20, 2026

SB 2805: RELATING TO AGRICULTURE.

Establishes a nonrefundable income tax credit to incentivize significant investment in agricultural production and support the expansion of agricultural crops that take longer to become productive. Applies to taxable years beginning after 12/31/2026. Sunsets 1/1/2031. Effective 7/1/3000. (HD1)

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates nonrefundable income tax credit for agricultural investment, providing tax relief to incentivize sector growth and expansion per bill summary.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Tags Agriculture

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in committee · Hawaii · House Dec 8, 2025

HB 462: RELATING TO AN INTERSTATE COMPACT TO PHASE OUT CORPORATE WELFARE.

HB 462 adopts an Interstate Compact designed to phase out corporate welfare by creating a multi-state agreement among participating states. The bill directly affects businesses receiving state-level tax incentives, subsidies, or other financial benefits previously classified as "corporate welfare." Its key mechanism is establishing a coordinated framework where states collectively eliminate these subsidies through mutual agreement, rather than individual state action. This procedural bill does not create new state laws but enables states to work together to end such financial support for corporations.

Topics ✗ Budget & TaxesOpposes Budget & TaxesPhases out state tax incentives/subsidies for businesses (corporate welfare), reducing government spending on these programs per bill's core mechanism.95% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · Hawaii · House Jan 30, 2026

HB 2212: RELATING TO A WORKFORCE BUILDER TAX CREDIT.

Establishes an income tax credit for eligible employers who employ qualified interns or apprentices. Requires the Department of Labor and Industrial Relations, in coordination with the Department of Taxation, to report to the Legislature on the tax credit. Appropriates funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes income tax credit for employers, appropriates funds for workforce program, aligns with tax incentive and funding indicators.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentEstablishes tax credit for employers hiring interns/apprentices, promoting workforce development and job opportunities within labor & employment framework.85% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Apprenticeships Workforce Development

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passed · Hawaii · Senate Dec 8, 2025

SB 1278: RELATING TO THE GENERAL EXCISE TAX.

Exempts from the state general excise tax any grants received from the federal Restaurant Revitalization Fund by an eligible business pursuant to the American Rescue Plan Act of 2021. Requires the Department of Taxation to notify all taxpayers eligible for refunds of any state general excise tax paid for grants received from the federal Restaurant Revitalization Fund of their eligibility and requires taxpayers to file refund claims no later than six months following notification. Requires any state general excise taxes paid by eligible businesses for Restaurant Revitalization Fund grants to be refunded to the taxpayer. Effective 7/1/3000. Applies retroactively to 3/11/2021. (HD1)

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts federal restaurant grants from state tax, providing relief to businesses and refunding overpaid taxes, aligning with tax relief support for small businesses.95% confidence

Sub-Topics Business Taxes Sales Tax

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passed · Hawaii · House Mar 12, 2026

HB 1850: RELATING TO CAPITAL GAINS TAX.

Taxes capital gains tax for individuals, estates, and trusts as ordinary income, except for capital gains that are eligible for a county homeowner's exemption. Repeals the alternative capital gains tax for corporations. Applies to taxable years beginning after 12/31/2026. Effective 7/1/3000. (HD2)

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases capital gains tax rates for high earners (individuals, estates, trusts, corporations), aligning with fiscal responsibility and closing tax loopholes for wealthy entities.95% confidence

Sub-Topics Business Taxes

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passed · Hawaii · House Feb 20, 2026

HB 1937: RELATING TO TAXES.

Excludes the sale of a motor vehicle to a lessor of rental motor vehicles for use as a rental motor vehicle as a sale at wholesale. Imposes the maximum allowable excise tax on the use of tangible personal property in the State for the importation or purchase of a motor vehicle by a lessor of rental motor vehicles for use as a rental motor vehicle. Establishes a Teacher Temporary Hazard Pay Special Fund to pay a temporary hazard pay bonus to certain eligible teachers. Beginning 7/1/2026 until 7/1/2030, deposits the additional tax revenue generated by this Act into the Teacher Temporary Hazard Pay Special Fund. Effective 7/1/3000. Sunsets 7/1/2030. (HD1)

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes max excise tax on rental vehicle purchases (securing revenue) and creates Teacher Hazard Pay Fund (funding public education).90% confidence ✓ EducationSupports EducationEstablishes Teacher Temporary Hazard Pay Special Fund for teacher bonuses, directly supporting educator compensation and retention.95% confidence

Sub-Topics Business Taxes Revenue Sales Tax Teachers

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in committee · Hawaii · House Feb 2, 2026

HB 2522: RELATING TO TAXATION.

Eliminates the Hawaii state income tax starting with the 2028 taxable year. Requires the Department of Taxation to submit a report to address the expected tax revenue shortfall and to propose conforming amendments to the Hawaii Revised Statutes.

Topics ✗ Budget & TaxesOpposes Budget & TaxesEliminates Hawaii's state income tax, reducing tax revenue and weakening fiscal management without addressing revenue gaps.95% confidence

Sub-Topics Business Taxes Income Tax Revenue

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passed · Hawaii · Senate Dec 8, 2025

SB 681: RELATING TO THE GENERAL EXCISE TAX.

Repeals the exemption to the general excise tax for agricultural businesses engaged in the production of genetically engineered agricultural products.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepealing tax exemption for GE agricultural businesses increases state tax revenue, closing a loophole and strengthening fiscal management.95% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · Hawaii · House Dec 8, 2025

HB 1265: RELATING TO TAX CREDITS.

HB 1265 creates a tax credit for businesses that use recycled or waste materials as inputs in their operations. It directly affects businesses generating or utilizing such materials, allowing them to reduce their state tax liability. The credit applies to taxable years beginning after December 31, 2025, meaning it would take effect in 2026. This bill establishes a specific mechanism for claiming the credit but does not specify the credit amount or detailed eligibility criteria in the provided abstract. The bill is currently pending in committee review for the 2026 legislative session.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for businesses using recycled materials, reducing state tax liability. This tax relief directly supports fiscal policy incentives for sustainable business operations.95% confidence ✓ EnvironmentSupports EnvironmentTax credit incentivizes recycled material use, reducing waste and conserving resources - direct environmental benefit aligned with conservation and pollution control indicators.95% confidence

Sub-Topics Business Taxes Tax Credits Recycling

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