(SB 1144 SD2 HD2 CD1)
Would increase the state minimum wage from $5.25 an hour to $5.75 an hour next Jan. 1. Also would increase the minimum again to $6.25 an hour on Jan. 1, 2003. Increases the tip credit from 20 cents an hour to 25 cents an hour.
High tech tax breaks
(HB175 HD2 SD2 CD1)
Provides an income tax break for high-tech companies that renovate commercial buildings. The tax credit will be equal to 4 percent of the cost of the renovations. The measure also exempts public Internet data centers from the excise and public services taxes.
Airline tax breaks
(HB1685 HD1 SD1 CD1)
Exempts lease payments for aircraft and aircraft engines from the state's 4 percent excise tax. The tax break will benefit the interisland airlines.
(HB200 HD1 SD1 CD1)
Allocates $400,000 to market Hawai'i as a business destination.
High tech promotion
(HB 1662 HD1 SD2 CD1)
Provides $150,000 to the state Department of Business, Economic Development and Tourism for high technology and marketing promotion.
Would impose the state's 7.25 percent hotel room tax on wholesale tour companies that sell hotel rooms as part of their packages. Depending on how the tax changes were structured, this bill would have allowed the state to collect an extra $30 million to $60 million a year.
Earned income tax credit
Would provide an unspecified state earned income tax credit to residents. The measure was intended to help low-income Hawai'i residents. Lawmakers expect to consider this again next year.
Food tax credit
Provides a tax credit of up to $70 per person to partially offset the impact of the state's 4 percent excise tax on food. Families with lower incomes would receive a larger credit, and those with higher incomes would receive smaller credits or no credit under the bill. This proposal was expected to cost the state about $20 million.
Would increase the standard deductions that all taxpayers claim, which would reduce each person's state income tax liability. The proposal was expected to cost the state $8 million to $12 million a year in lost tax collections.
Would create a tax credit to encourage revitalization of older commercial facilities, including retail, hotel, warehouse, and industrial facilities. To qualify for the credit, projects over $2,500,000 would have to pay prevailing union wages.
End tax cuts
Would halt the tax cuts approved by Gov. Ben Cayetano and the Legislature in 1998. Would eliminate the last two steps of the three-step tax cut.
Would eliminate the state's 4 percent excise tax on groceries, medical services and residential rent. Lawmakers expect to consider this measure again next year.
Income tax cuts
Would further reduce the top income tax rate by one percentage point over four years, and would make comparable adjustments in lower income tax brackets. Would cost the state about $145 million a year in lost tax collections.
Corporate tax cut
Would halve corporate income taxes as well as taxes on real estate investment trusts.
Would impose a new luxury tax on purchases worth more than $20,000.
Would exempt senior citizens who are more than 65 years old from paying the 4 percent excise tax on groceries.
Would increase the tax credit for low-income renters from $50 to $100.