31st Legislature, 2021
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SB56 SD1       (?)

Report Title: Revenue Generation; Personal Income Tax; Corporate Income Tax; Capital Gains; General Excise Tax Exemptions; Conveyance Tax
Description: Increases the personal income tax rate for high earners for taxable years beginning after 12/31/2020. Increases the tax on capital gains. Increases the corporate income tax and establishes a single corporate income tax rate. From 7/1/2021 through 6/30/2023, temporarily repeals certain general excise tax exemptions. Increases conveyance taxes for the sale of properties valued at $4,000,000 or greater. (SD1)
Companion:  HB3
Package: None
Current Referral: ECD, HSG, CPC, FIN
Introducer(s): CHANG

Sort by Date Status Text
1/21/2021SPassed First Reading.
1/22/2021SReferred to WAM.
2/26/2021SThe committee(s) on WAM has scheduled a public hearing on 03-02-21 9:25AM; CR 211 & Videoconference.
3/2/2021SThe committee(s) on WAM deferred the measure until 03-04-21 10:05AM; CR 211 & Videoconference.
3/4/2021SThe committee(s) on WAM deferred the measure until 03-04-21 1:51PM; CR 211 & Videoconference.
3/4/2021SThe committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, English, Inouye, Kanuha, Kidani, Moriwaki, Shimabukuro, Taniguchi, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
3/5/2021SReported from WAM (Stand. Com. Rep. No. 764) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
3/5/2021SReport adopted; Passed Second Reading, as amended (SD 1).
3/5/2021S48 Hrs. Notice 03-09-21.
3/9/2021SPassed Third Reading, as amended (SD 1). Ayes, 24; Aye(s) with reservations: Senator(s) Ihara. Noes, 1 (Senator(s) Riviere). Excused, 0 (none). Transmitted to House.
3/9/2021HReceived from Senate (Sen. Com. No. 146) in amended form (SD 1).
3/11/2021HPass First Reading
3/11/2021HReferred to ECD, HSG, CPC, FIN, referral sheet 22

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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SB56 SD1

WAM 3/02/21 9:25A
CR 211 & Videoconference
WAM 3/04/21 10:05A
CR 211 & Videoconference