Proposes amendments to the Hawaii State Constitution to repeal the counties' exclusive power to tax real property, and to authorize the Legislature to establish a state surcharge on real property taxes levied by the counties on certain residential investment properties, for the purpose of helping to fund public education for all of Hawaii's children and adults. Effective 7/1/3000. (HD2)
Establishes a family caregiver tax credit for nonpaid family caregivers. Requires the Department of Taxation to submit annual reports to the legislature. Appropriates moneys to the Executive Office on Aging. The tax credit applies to taxable years beginning after 12/31/2027. Effective 12/31/2026.
Part I: Effective 1/1/2027, requires corporations to include in their income 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, which shall be deposited into the state general fund; and requires corporations to report all profits, losses, revenues, and inter-company transactions made and all taxes paid in other states. Part II: Establishes within DOTAX a Corporate Tax Law Task Force to annually review the State's corporate tax laws and recommend updates to close tax loopholes.
Establishes the sustainable aviation fuel import tax credit. Increases the renewable fuels production tax credit amount. Repeals the: (1) cap amount of claimable renewable fuels production tax credit; (2) requirement that the tax credit be claimed for fuels with lifecycle emissions below fossil fuels; and (3) prohibition on claiming other tax credits for the cost incurred to produce renewable fuels. Specifies that the renewable fuels production tax credit can only be claimed for fuels that meet the certain thresholds. Adds an additional tax credit value. Clarifies that a taxpayer who previously claimed a renewable fuels production tax credit may claim another one for taxable years beginning after 12/31/2024. Clarifies and expands required information in the certified statement for the tax credit. Repeals the requirement that the Hawaii State Energy Office provide the taxpayer with a determination of whether the lifecycle greenhouse gas emissions for each type of qualified fuel produced is lower than that of fossil fuels.
Part II: Requires certain priority level 1 cesspools to be upgraded, converted, or connected before 1/1/2035, and priority level 2 cesspools to be upgraded, converted, or connected before 1/1/2040, rather than before 1/1/2050. Part III: Appropriates funds to the Department of Health to implement the Cesspool Compliance Pilot Grant Project established pursuant to Act 153, Session Laws of Hawaii 2022. Part IV: Establishes an income tax credit for the cost of upgrading or converting a qualified cesspool to a Director of Health-approved wastewater system or connecting to a sewerage system, and requires the Auditor to periodically review the tax credit.
Provides appropriations for collective bargaining cost items for the members of Bargaining Unit (14) and their excluded counterparts, including the cost of salary adjustments negotiated between the State and the bargaining unit representative for fiscal biennium 2025-2027. Declares the expenditure ceiling for fiscal year 2025-2026 is exceeded. Effective 7/1/2050. (SD1)
Amends the amount of total income tax credits available. Increases the annual per production and aggregate caps. Provides the State with alternative marketing opportunities in lieu of a shared-card, end-title screen credit.
Adds psychology, physician assistant, marriage and family therapist, mental health counselor, clinical social worker, rehabilitation counselor, and school counselor students to the definition of "eligible student" under the qualifications for the healthcare preceptor tax credit. Amends the definition of "preceptor" by adding psychologists, physician assistants, marriage and family therapists, mental health counselors, clinical social workers, rehabilitation counselors, and school counselors to the list of preceptors eligible to receive the tax credit. Applies to taxable years beginning after 12/31/2025.
HB 2547 allows the Director of Finance to invest certain state funds in short-term, investment-grade corporate bonds. This bill directly affects state financial management by expanding permissible investment options for unspent state moneys. The key provision authorizes these specific bond investments while requiring they meet strict credit quality standards. The bill is procedural in nature, focusing solely on enabling this investment method without creating new regulations or altering state obligations.
Establishes a Sugar-Sweetened Beverage Fee Program to be administered by the Department of Health that, beginning 7/1/2026, imposes a fee on the distribution and sale of sugar-sweetened beverages in the State. Establishes the Healthy Ohana Special Fund into which revenues generated from the sugar-sweetened beverage fee are deposited. Establishes the Healthy Ohana Trust Fund in the private sector to receive revenues from the Healthy Ohana Special Fund to support prevention and control of obesity and chronic diseases. Allows the Department to contract with a third party to administer the program. Requires the Auditor to conduct a management and financial audit of the program and submit reports to the Legislature. Establishes the Healthy Ohana Trust Fund Advisory Committee to advise the Department on the administration of the trust fund. Requires the Department to adopt interim rules no later than 6/30/2026, and final rules no later than 12/31/2027. Establishes civil penalties. Requires annual reports to the Legislature. Appropriates funds.
