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Bill

SB 349

RELATING TO CAPITAL GAINS.

2025 Regular Session Introduced by Sharon Moriwaki and 1 co-sponsor

Hawaii bill SB 349 modifies capital gains taxation policy; referred to Ways and Means Committee for evaluation of revenue, investment, and economic competitiveness impacts.

Carried over to 2026 Regular Session.
#capitalgainstax #rate #repeal
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Bill Summary · SB 349

Legislative bill overview

SB 349 is a Hawaii bill introduced by Karl Rhoads and Sharon Moriwaki that addresses capital gains taxation. The bill has completed first reading and been referred to the Ways and Means (WAM) Committee, where it currently awaits further consideration after being carried over to the 2026 legislative session.

Why is this important

Capital gains taxation affects investment returns, business asset sales, and real estate transactions—directly impacting both individual wealth accumulation and state tax revenue. Hawaii's approach to capital gains could influence competitiveness for attracting businesses and investors while determining funding for state programs.

Potential points of contention

  • Tax burden distribution: Whether capital gains taxes should apply uniformly or have exemptions for certain investments, retirement accounts, or small businesses
  • Revenue vs. economic impact: Balancing increased state revenue against potential effects on investment activity and business relocation
  • Definition and scope: How capital gains are defined and which transactions are included (stocks, real estate, small business sales, etc.)

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

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