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Measure details
Measure Title: RELATING TO TAX HAVEN ABUSE.
Report Title: Department of Taxation; Taxation; Corporations; Combined Reporting; State-by-State Reporting; Penalties
Description: Effective 1/1/2028, 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. Establishes penalties for violations. Effective 7/1/2050. (SD1)
Companion:  HB2149
Package: None
Current Referral: CPN/JDC, WAM
Introducer(s): RHOADS
Act:

Measure Status History

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DateChamberStatus Text
2/20/2026SReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/20/2026SReported from CPN/JDC (Stand. Com. Rep. No. 2611) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2/17/2026SThe committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, Awa; Aye(s) with reservations: Senator(s) Lamosao ; 0 No(es): none; and 1 Excused: Senator(s) McKelvey.
2/17/2026SThe committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 4 Aye(s): Senator(s) Rhoads, Gabbard, San Buenaventura, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Chang.
2/16/2026SThe committee(s) on CPN/JDC has rescheduled its public hearing to 02-17-26 9:30AM; CR 229 & Videoconference.
2/13/2026SThe committee(s) on CPN/JDC has scheduled a public hearing on 02-17-26 9:45AM; Conference Room 229 & Videoconference.
1/30/2026SReferred to CPN/JDC, WAM.
1/26/2026SPassed First Reading.
1/23/2026SIntroduced.

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All Versions of this Measure

Committee Reports

Hearing Notices

CPN/JDC
2/17/26 9:30A
CR 229 & Videoconference