Hawaii HB1843 mandates a four-year sunset for existing income tax credits and a seven-year sunset for new or renewed credits.

Hawaii HB1843 amends Chapter 235 of the Hawaii Revised Statutes to establish sunset provisions for income tax credits. Credits existing on December 31, 2026, will sunset on December 31, 2030. Any income tax credit established or renewed after December 31, 2026, will sunset seven years after the date of reenactment or renewal. This change does not apply to section 235-15 or credits codified under part III of the chapter. The Act takes effect upon approval.

Hawaii HB1843 mandates a four-year sunset for existing income tax credits and a seven-year sunset for new or renewed credits.

Hawaii HB1843 amends Chapter 235 of the Hawaii Revised Statutes to establish sunset provisions for income tax credits. Credits existing on December 31, 2026, will sunset on December 31, 2030. Any income tax credit established or renewed after December 31, 2026, will sunset seven years after the date of reenactment or renewal. This change does not apply to section 235-15 or credits codified under part III of the chapter. The Act takes effect upon approval.