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GM 1114

Informing the Legislature that on April 10, 2025, the Governor signed the following bill into law: SB1291 SD1 (ACT 014).

2025 Regular Session

Act 014 streamlines CPA licensure in Hawaii by allowing alternative pathways, boosting the number of qualified accountants to support the state's growing business sector.

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Bill Summary · GM 1114

Summary of GM 1114: Proclamation of Act 014

Bill Overview

  • Bill Number: GM 1114
  • Title: Informing the Legislature that on April 10, 2025, the Governor signed the following bill into law: SB1291 SD1 (ACT 014).
  • Status: Received
  • Introduced: April 11, 2025
  • Classification: Proclamation
  • Subject: Act 014

Purpose and Intent

The primary purpose of GM 1114 is to inform the legislature that the Governor of Hawaii, Josh Green, signed SB1291 SD1 into law on April 10, 2025. This legislation, now known as Act 014, aims to address the growing complexity in business and commerce by facilitating the licensure of Certified Public Accountants (CPAs) in Hawaii. The Act seeks to create alternative pathways to licensure that reduce barriers for potential CPA candidates, thereby increasing the number of qualified professionals in the field.

Key Provisions

  1. Educational Requirements:

    • The Act modifies the educational requirements for obtaining a CPA license. It maintains the necessity of a baccalaureate degree but allows for alternative pathways to fulfill the additional 30 semester hours of education typically required.
    • Candidates may now substitute the additional educational requirement with 30 months of professional experience in public accounting.

  2. Licensure Criteria:

    • The Act outlines the criteria for licensure, which includes:
      • Being at least 18 years old.
      • Demonstrating competence, trustworthiness, and fair dealing.
      • Completing the required educational and experience criteria.
      • Passing the CPA examination and paying the necessary fees.

  3. Exemptions:

    • Certain individuals may be exempt from specific requirements if they hold a current license as a public accountant or have maintained a valid comparable certificate from another state for at least ten years.

  4. Repeal of Previous Statute:

    • The Act repeals Section 466-5.5 of the Hawaii Revised Statutes, which previously outlined educational requirements for licensure.

Impact

  • Who is Affected:

    • The changes will primarily impact students and professionals pursuing CPA licensure in Hawaii. By providing alternative pathways, the Act aims to encourage more individuals to enter the accounting profession, addressing the current decline in CPA licenses issued.

  • Professional Landscape:

    • The Act is expected to enhance the availability of qualified CPAs in Hawaii, which is crucial for supporting the state's growing business and commerce sectors.

Procedural Aspects

  • Effective Date: The Act takes effect upon its approval, which occurred on April 10, 2025.
  • Legislative Process: The bill passed through both the Senate and House of Representatives before being signed into law by the Governor.

In summary, GM 1114 serves as a formal proclamation of the enactment of Act 014, which aims to streamline the CPA licensure process in Hawaii, ultimately fostering a more robust accounting profession in the state.

Compiled from official sources — confirm details with the bill’s official record.

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