HI HB1620 | 2024 | Regular Session

Hawaii House Bill 1620

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 17 2024 - 25% progression
Action: 2024-02-12 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Amato, Lowen, Nakashima, Quinlan, Todd excused (5).
Pending: House Finance Committee
Text: Latest bill text (Amended) [HTML]

Summary

Reduces the pass-through entity level tax rate and allows the nonrefundable tax credit to be carried forward to subsequent years. Effective 7/1/3000. (HD1)

Title

Relating To Pass-through Entity Taxation.

History

Date	Chamber	Action
2024-02-12	House	Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Amato, Lowen, Nakashima, Quinlan, Todd excused (5).
2024-02-12	House	Reported from ECD (Stand. Com. Rep. No. 238-24) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
2024-02-07	House	The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Holt, Lamosao, Hussey-Burdick, Kong, Nakamura, Quinlan, Pierick; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) La Chica.
2024-02-02	House	Bill scheduled to be heard by ECD on Wednesday, 02-07-24 10:30AM in House conference room 423 VIA VIDEOCONFERENCE.
2024-01-24	House	Referred to ECD, FIN, referral sheet 1
2024-01-17	House	Introduced and Pass First Reading.
2024-01-16	House	Prefiled.

Subjects

Carry Forward
Corporations
Partnerships
Pass-through Entity
S Corporations
Taxation

Hawaii State Sources

Type	Source
Summary	https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1620&year=2024
Text	https://www.capitol.hawaii.gov/sessions/session2024/bills/HB1620_.HTM
Text	https://www.capitol.hawaii.gov/sessions/session2024/bills/HB1620_HD1_.HTM