All Roll Calls
Yes: 8 • No: 0
HawaiiSB 27382025–2026 Regular Session (Year 2)Senate
RELATING TO TAX HAVEN ABUSE.
Sponsored By: Karl Rhoads (Democratic)
Passed
Summary
Effective 1/1/2028, requires corporations to include in their income the income of all foreign subsidiaries to the State; applies the State's apportionment formula to determine the share of reported profits subject to the appropriate tax, which shall be deposited into the state general fund; and requires corporations to report all profits, losses, revenues, and inter-company transactions made and all taxes paid in other states. Establishes penalties for violations. Effective 7/1/2050. (SD1)
Department of TaxationTaxationCorporationsCombined ReportingState-by-State ReportingPenaltiesCPN/JDC, WAM
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Karl Rhoads
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 2/17/2026
The committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENT...
Yes: 4 • No: 0
Senate vote • 2/17/2026
The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENT...
Yes: 4 • No: 0
Actions Timeline
Reported from CPN/JDC (Stand. Com. Rep. No. 2611) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2/20/2026SenateReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/20/2026SenateThe committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 4 Aye(s): Senator(s) Rhoads, Gabbard, San Buenaventura, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Chang.
2/17/2026SenateThe committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, Awa; Aye(s) with reservations: Senator(s) Lamosao ; 0 No(es): none; and 1 Excused: Senator(s) McKelvey.
2/17/2026SenateThe committee(s) on CPN/JDC has rescheduled its public hearing to 02-17-26 9:30AM; CR 229 & Videoconference.
2/16/2026SenateThe committee(s) on CPN/JDC has scheduled a public hearing on 02-17-26 9:45AM; Conference Room 229 & Videoconference.
2/13/2026SenateReferred to CPN/JDC, WAM.
1/30/2026SenatePassed First Reading.
1/26/2026SenateIntroduced.
1/23/2026Senate
Bill Text
Bill Text
Original
SB2738_SD1
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