WeVote
Log In

Bill

Bill

SB 3046

RELATING TO INCOME TAX CREDIT.

2026 Regular Session Introduced by Dru Kanuha

SB 3046 modifies Hawaii income tax credits; specific provisions unclear pending committee review, with potential revenue and equity implications.

Reported from LBT (Stand. Com. Rep. No. 2534) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
#appropriation($) #dlir #dotax #nonrefundableincometaxcredit #report #workforcebuildertaxcredit
0
WeVote Research Nonpartisan
Bill Summary · SB 3046

Legislative bill overview

SB 3046 relates to modifications of Hawaii's income tax credit system, though the specific provisions are not detailed in the available information. The bill is currently in early legislative stages, having just passed first reading and been referred to the Labor and Business and Ways and Means committees.

Why is this important

Income tax credits directly affect taxpayer liabilities and state revenue. Depending on the bill's specific provisions—whether expanding, contracting, or restructuring existing credits—it could influence tax burden distribution across income levels, business competitiveness, or state budget allocations for public services.

Potential points of contention

  • Revenue impact: Any expansion of tax credits reduces state general fund revenue, potentially requiring cuts elsewhere or tax increases; contraction affects taxpayers receiving the credits
  • Equity concerns: Changes to income tax credits may disproportionately benefit certain income brackets or demographic groups, raising fairness questions
  • Economic effects: Tax credit modifications could incentivize or disincentivize specific behaviors (investment, hiring, relocation), with uncertain outcomes

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

Sign in to ask a question.