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Measure details
Measure Title: RELATING TO TAXATION.
Report Title: Department of Taxation; Income Tax Credit; Hurricane Resistance Retrofit; General Excise Tax; Rate Reduction
Description: Establishes a nonrefundable individual income tax credit for a certain percentage of expenses paid to retrofit a residence with wind resistive devices or to purchase, install, or construct, a hurricane shelter on the taxpayer's property. Reduces the general excise tax rate on the gross proceeds or income from the sale of a concrete high-rise certified hurricane-resistant residential project or certain hurricane-resistant components of the project. Applies to taxable years beginning after 12/31/2026. Sunsets 12/31/2030. Effective 7/1/2050. (SD1)
Companion:  HB2526
Package: None
Current Referral: CPN, WAM
Introducer(s): GABBARD
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 (Stand. Com. Rep. No. 2652) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2/18/2026SThe 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, Lamosao, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) McKelvey.
2/13/2026SThe committee(s) on CPN has scheduled a public hearing on 02-18-26 9:30AM; Conference Room 229 & Videoconference.
1/30/2026SReferred to CPN, WAM.
1/26/2026SPassed First Reading.
1/23/2026SIntroduced.

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All Versions of this Measure

Committee Reports

Hearing Notices

CPN
2/18/26 9:30A
CR 229 & Videoconference