Relating To Taxation.
Last status update Jan 23, 2025
What this measure contains
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.
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- Introduced · Official document ↗· Jan 21, 2025
Related measures
- SB1043— Same As
- HB959— Carry Over
Related measures may contain different language or follow different histories.
Floor actions reported in the history
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Legislative history
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Pending introduction.
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Introduced and Pass First Reading.
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Referred to ECD, FIN, referral sheet 3
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Bill scheduled to be heard by ECD on Friday, 02-07-25 10:15AM in House conference room 423 VIA VIDEOCONFERENCE.
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The committee(s) on ECD recommend(s) that the measure be deferred.
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Carried over to 2026 Regular Session.