Ron Kouchi
- Democratic
- Senator
- District 8
Primary
Conforms Hawaii estate tax laws to the operative provisions of the Internal Revenue Code to decrease the burden on taxpayers and increase efficiencies in the Department of Taxation's monitoring and auditing of estate tax returns. Establishes an estate tax deduction for the value of closely held business interests that will help ensure that locally-owned family businesses can continue to contribute to the Hawaii economy and assist families to retain the ownership interest in their family businesses. Takes effect 7/1/2040. (SD1)
Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
Reported from CPN (Stand. Com. Rep. No. 2661) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
The committee(s) on CPN deferred the measure until 02-14-24 10:00AM; Conference Room 229.
The committee(s) on CPN has scheduled a public hearing on 02-13-24 9:20AM; Conference Room 229 & Videoconference.
Passed First Reading.
Introduced.
| Bill Text Versions | Format |
|---|---|
| SB3345 |
| Document | Format |
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| No related documents. |
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