Budget & Taxes

Amends the exclusion amount of Hawaii's estate tax. Repeals exemption for tax imposed on transfer of taxable estate located in Hawaii for nonresidents and nonresidents who are not citizens. Applicable to decedents dying or taxable transfers occurring after 12/31/2024. Effective 7/1/2050. (SD1)

Beginning January 1, 2030, establishes a wealth asset tax of one per cent of the state net worth of each individual taxpayer who holds $20,000,000 or more in assets in the State. Effective 4/23/2057. (SD1)

Requires the Department of Health to establish a two-year Centralized Health Care Credentialing Pilot Program that reduces duplicative activities required for the credentialing of health care providers by hospitals, universities, clinics, health plans, and independent practice associations; and convene an advisory committee. Requires reports to the Legislature. Appropriates funds. Effective 12/31/2050. (SD1)