SB 697 Hawaii Senate · 2025 Regular Session

RELATING TO AN INCOME TAX CREDIT.

Summary

Establishes a nonrefundable individual income tax credit for expenses paid to retrofit a residence with wind resistive devices. Requires the Department of Taxation to prepare forms. Requires the Department of Commerce and Consumer Affairs to pre-certify claims. Appropriates funds. Applies to taxable years beginning after 12/31/2025. Sunsets 1/1/2028. Effective 7/1/2050. (SD1)

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 17, 2025 Last action Feb 10, 2025

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What changed between versions

SB697 → SB697_SD1 · 5 edits

MODERATE

The bill was reformatted from a standard legislative document to a structured data format (SB697_SD1), with significant substantive changes to the tax credit amount and effective dates. The credit amount was changed from a fixed $40,000 to a percentage-based calculation, and the effective date was moved from 2025 to 2050 with a sunset date of 2028.

Scope change

The bill now applies to taxable years beginning after December 31, 2025, rather than December 31, 2024, and includes a sunset provision repealing the Act on January 1, 2028.

FISCAL

The tax credit amount changed from a fixed $40,000 to a percentage of actual costs, with the specific percentage left blank for future determination.

TIMELINE

The effective date was changed from July 1, 2025 to July 1, 2050, significantly delaying when the credit becomes available.

REQUIREMENT

A new sunset provision was added, requiring the Act to be repealed on January 1, 2028.

ELIGIBILITY

The credit duration was modified to be limited to a maximum of a blank number of years, previously allowing indefinite carryforward.

TECHNICAL

The document format changed from a traditional legislative bill to a structured data format with metadata headers.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 10, 2025

Committee

Reported from CPN (Stand. Com. Rep. No. 169) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Jan 31, 2025

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 3 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Richards, Awa.

upper

Jan 24, 2025

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 01-31-25 9:30AM; Conference Room 229 & Videoconference.

upper

Jan 23, 2025

Committee

Referred to CPN, WAM.

upper

Jan 17, 2025

Introduced

Introduced.

upper

3 primary · 0 co-sponsors