| Measure Title: |
RELATING TO TAXATION.
|
| Report Title: |
General Excise Tax; Groceries; Nonprescription Drugs; Income Tax; Income Tax Brackets; Standard Deduction; Unemployment Insurance; Exemptions; Maui Recovery Special Fund; Appropriations ($)
|
| Description: |
Exempts the sale of groceries and nonprescription drugs from the general excise tax. Incrementally increases the general excise tax over four years, with the increased proceeds during certain fiscal years to be deposited into the general fund. Removes the state income tax on unemployment compensation benefits. Doubles the standard deduction for individuals earning less than $100,000 and joint returns earning less than $200,000. Repeals the incremental increases on standard income tax deduction amounts. Increases the minimum income threshold and exemption amount for the low-income household renters' income tax credit. Removes the tax liability for the first $100,000 of individual income earned. Establishes the Maui Recovery Special Fund to be used for recovery programs related to the 2023 Maui wildfires. Appropriates funds. Applies to taxable years beginning after 12/31/2024.
|
| Companion: |
SB1043
|
| Package: |
None
|
| Current Referral: |
ECD, FIN
|
| Introducer(s): |
KILA, EVSLIN, LAMOSAO, LOWEN, MORIKAWA
|
| Act: |
|
| Sort by Date | Chamber | Status Text |
| 2/7/2025 | H | The committee(s) on ECD recommend(s) that the measure be deferred. |
| 2/4/2025 | H | Bill scheduled to be heard by ECD on Friday, 02-07-25 10:15AM in House conference room 423 VIA VIDEOCONFERENCE. |
| 1/23/2025 | H | Referred to ECD, FIN, referral sheet 3 |
| 1/23/2025 | H | Introduced and Pass First Reading. |
| 1/21/2025 | H | Pending introduction. |
S = Senate |
H = House |
D = Data Systems |
$ = Appropriation measure |
ConAm = Constitutional Amendment
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HB959