SB3061 • 2026

RELATING TO TAX CREDITS.

Taxes

Active

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

Sponsor: DELA CRUZ
Last action: 2026-01-30
Official status: Referred to 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 TAX CREDITS.

What This Bill Does

RELATING TO TAX CREDITS.
Taxation; Income Tax Credits; Sunset; Exceptions Requires that income tax credits existing on 12/31/2026 include a sunset on 12/31/2030.
Requires that income tax credits established or renewed after 12/31/2026 include a sunset 7 years after the date of enactment or renewal of the tax credit.
Provides for exceptions.

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.

Bill History

2026-01-30 S
Referred to WAM.
2026-01-28 S
Passed First Reading.
2026-01-28 S
Introduced.

Official Summary Text

RELATING TO TAX CREDITS.
Taxation; Income Tax Credits; Sunset; Exceptions
Requires that income tax credits existing on 12/31/2026 include a sunset on 12/31/2030. Requires that income tax credits established or renewed after 12/31/2026 include a sunset 7 years after the date of enactment or renewal of the tax credit. Provides for exceptions.

Current Bill Text

Read the full stored bill text

SB3061

THE SENATE

S.B. NO.

3061

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

A BILL FOR AN ACT

RELATING
TO TAX CREDITS
.

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

����
SECTION
1.
�
The purpose of this Act is to require
income tax credits existing on December 31, 2026, to include a four‑year
sunset; and for credits established or renewed after December 31, 2026, to
include a seven-year sunset.

����
SECTION
2.
�
Chapter 235, Hawaii Revised Statutes,
is amended by adding a new section to part I to be appropriately designated and
to read as follows:

����
"
�235-
��
��
Tax credits; generally.
�
Notwithstanding any other provision of
this chapter to the contrary:

����
(1)
�
Any income tax credit existing under this
chapter on December 31, 2026, shall sunset on December 31, 2030; and

����
(2)
�
Any income tax credit established or
renewed under this chapter after December 31, 2026, shall sunset seven years after
the date of reenactment or renewal of the tax credit;

provided that this section shall not apply to
section 235-15 or income tax credits codified under part III of this chapter.
"

����
SECTION
3.
�
New statutory material is
underscored.

����
SECTION 4.
�
This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Taxation;
Income Tax Credits; Sunset; Exceptions

Description:

Requires
that income tax credits existing on 12/31/2026 include a sunset on 12/31/2030.
�
Requires that income tax credits established
or renewed after 12/31/2026 include a sunset 7 years after the date of
enactment or renewal of the tax credit.
�

Provides for exceptions.

The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.