Measure Title: RELATING TO PASS-THROUGH ENTITY TAXATION.
Report Title: Taxation; Pass-Through Entities; S Corporations; Partnerships; Qualified Members
Description: For taxable years beginning after 12/31/2023, adds a definition for "qualified member" and repeals the definitions for "direct member" and "indirect member" as used in the State's passthrough entity taxation election law. Amends the passthrough entity level tax rate to be the sum of all qualified member's distributive shares and guaranteed payments of Hawaii taxable income, as calculated under chapter 235, HRS, multiplied by 9%. For pass-through entities electing to pay Hawaii income taxes at the entity level, allows certain qualified members entitled to a tax credit to use the credit against the member's net income tax liability in subsequent years until exhausted. (CD1)
Companion:  HB2307
Package: None
Current Referral: FIN
Introducer(s): MORIWAKI, FEVELLA, HASHIMOTO, MCKELVEY, Kidani
Act:

Sort by Date Status Text
5/2/2024SEnrolled to Governor.
5/3/2024SReceived notice of passage on Final Reading in House (Hse. Com. No. 830).
5/1/2024HReceived notice of Final Reading (Sen. Com. No. 798).
5/1/2024HPassed Final Reading as amended in CD 1 with none voting aye with reservations; Representative(s) Cochran, Hussey-Burdick, Kapela, Perruso, Poepoe voting no (5) and none excused (0).
5/1/2024SPassed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none. Noes, 0 (none). Excused, 0 (none).
4/26/2024HForty-eight (48) hours notice Wednesday, 05-01-24.
4/26/2024HReported from Conference Committee (Conf Com. Rep. No. 115-24) as amended in (CD 1).
4/26/2024S48 Hrs. Notice (as amended CD 1) 05-01-24.
4/26/2024SReported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 115-24).
4/25/2024HThe Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 4 Ayes: Representative(s) Kitagawa, Chun, Garrett, Alcos; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.
4/25/2024SThe Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 3 Aye(s): Senator(s) Moriwaki, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
4/24/2024SConference committee meeting scheduled for 04-25-24 1:00PM; Conference Room 309.
4/18/2024HReceived notice of Senate conferees (Sen. Com. No. 698).
4/18/2024SSenate Conferees Appointed: Moriwaki Chair; Wakai, Fevella.
4/18/2024SReceived notice of appointment of House conferees (Hse. Com. No. 759).
4/17/2024HHouse Conferees Appointed: Kitagawa Chair; Chun, Garrett, Alcos.
4/11/2024HReceived notice of disagreement (Sen. Com. No. 673).
4/11/2024SSenate disagrees with House amendments.
4/11/2024SReceived from House (Hse. Com. No. 708).
4/9/2024HPassed Third Reading with Representative(s) Hussey-Burdick voting aye with reservations; Representative(s) Kapela, Perruso, Poepoe voting no (3) and none excused (0). Transmitted to Senate.
4/5/2024HPassed Second Reading as amended in HD 1; placed on the calendar for Third Reading with Representative(s) Amato, Belatti, Hussey-Burdick voting aye with reservations; Representative(s) Ganaden, Kapela, Perruso, Poepoe voting no (4) and Representative(s) Gates, Souza excused (2).
4/5/2024HReported from FIN (Stand. Com. Rep. No. 1781-24) as amended in HD 1, recommending passage on Second Reading and placement on the calendar for Third Reading.
4/3/2024HThe committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 14 Ayes: Representative(s) Yamashita, Kitagawa, Aiu, Chun, Cochran, Garrett, Kahaloa, Kila, Kobayashi, Lamosao, Morikawa, Nishimoto, Poepoe, Takenouchi; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Alcos, Ward.
4/1/2024HBill scheduled to be heard by FIN on Wednesday, 04-03-24 2:15PM in House conference room 308 VIA VIDEOCONFERENCE.
3/7/2024HReferred to FIN, referral sheet 16
3/7/2024HPass First Reading
3/5/2024HReceived from Senate (Sen. Com. No. 185).
3/5/2024SPassed Third Reading. Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.
3/1/2024SOne Day Notice 03-05-24.
3/1/2024SReport adopted; Passed Second Reading.
3/1/2024SReported from WAM (Stand. Com. Rep. No. 2845) with recommendation of passage on Second Reading and placement on the calendar for Third Reading.
2/28/2024SThe committee(s) on WAM recommend(s) that the measure be PASSED, UNAMENDED. The votes in WAM were as follows: 12 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Shimabukuro.
2/23/2024SThe committee(s) on WAM has scheduled a public hearing on 02-28-24 10:02AM; Conference Room 211 & Videoconference.
1/24/2024SReferred to WAM.
1/22/2024SPassed First Reading.
1/19/2024SIntroduced.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

Some of the above items require Adobe Acrobat Reader. Please visit Adobe's download page for detailed instructions.


SB2725 HD1 CD1
All Versions of this Measure
SB2725_HD1 Pdf File
SB2725_CD1 Pdf File
SB2725 Pdf File
Committee Reports
SB2725_SSCR2845_ Pdf File
SB2725_HD1_HSCR1781-24_ Pdf File
SB2725_CD1_CCR115-24_ Pdf File
Testimony
SB2725_TESTIMONY_WAM_02-28-24_
SB2725_TESTIMONY_FIN_04-03-24_
Hearing Notices
WAM
2/28/24 10:02A
CR 211 & Videoconference
FIN
4/03/24 2:15P
308 VIA VIDEOCONFERENCE
CONF
4/25/24 1:00P
CR 309