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SB2656 • 2026

RELATING TO TAXATION.

RELATING TO TAXATION.

Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
KANUHA
Last action
2026-02-25
Official status
Re-Referred to EDT/CPN/WAM.
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

RELATING TO TAXATION.

RELATING TO TAXATION.

What This Bill Does

  • RELATING TO TAXATION.
  • Income Tax; REIT; Dividends Paid Deduction Disallows the dividends paid deduction for real estate investment trusts, except those having investments or that are community development financial institutions.
  • (SD1)

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SD1

1

Hawaii published version SD1

Plain English: SB2656 SD1 THE SENATE S.B.

  • SB2656 SD1 THE SENATE S.B.
  • NO.
  • 2656 THIRTY-THIRD LEGISLATURE, 2026 S.D.
  • 1 STATE OF HAWAII A BILL FOR AN ACT RELATING TO TAXATION.
Hawaii published version SD1_PROPOSED

Plain English: SB2656 SD1 PROPOSED LRB 26-xxxx.

  • SB2656 SD1 PROPOSED LRB 26-xxxx.
  • THE SENATE S.B.
  • NO.
  • 2656 THIRTY-THIRD LEGISLATURE, 2026 S.D.

Bill History

  1. 2026-02-25 S

    Re-Referred to EDT/CPN/WAM.

  2. 2026-02-25 S

    Report adopted, as amended (SD 1) and recommitted to WAM.

  3. 2026-02-25 S

    Reported from WAM (Stand. Com. Rep. No. 2720) as amended (SD 1), with recommendation of recommittal to WAM.

  4. 2026-02-25 S

    The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS and be recommitted. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Moriwaki, DeCoite, Hashimoto, Inouye, Kanuha, Lee, C., Richards; Aye(s) with reservations: Senator(s) Elefante, Wakai, Fevella ; 0 No(es): none; and 2 Excused: Senator(s) Kidani, Kim.

  5. 2026-02-24 S

    The committee(s) on WAM will hold a public decision making on 02-25-26 10:54AM; Conference Room 211 & Videoconference.

  6. 2026-01-28 S

    Referred to WAM.

  7. 2026-01-23 S

    Passed First Reading.

  8. 2026-01-23 S

    Introduced.

Official Summary Text

RELATING TO TAXATION.
Income Tax; REIT; Dividends Paid Deduction
Disallows the dividends paid deduction for real estate investment trusts, except those having investments or that are community development financial institutions. (SD1)

Current Bill Text

Read the full stored bill text 
SB2656

THE SENATE

S.B. NO.

2656

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

A BILL FOR AN ACT

rELATING
TO
TAXATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

����
Section
1.
�
The purpose of this Act is to effectuate the
title of this Act.

����
SECTION 2.
�
The Hawaii
Revised Statutes is amended to conform to the purpose of this Act.

����
SECTION 3.
�
This Act shall
take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Short
Form; Taxation

Description:

Short
form bill.

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