| Measure Title: | RELATING TO WINDFALL PROFITS EARNED BY OIL COMPANIES. |
| Report Title: | Windfall Profits Tax |
| Description: | This bill would impose a windfall profits tax equal to 50% of the amount of the profits earned by oil companies doing business in Hawaii when deemed to be excessive. Profits earned by oil companies would be considered "excessive" when such profits exceeded twice the average profit margin for the oil industry in the United States considered as a whole. This bill would provide for the creation of a panel of advisors who would analyze industry figures to determine an average industry profit margin for oil companies. Taxes collected pursuant to this measure would be apportioned to the counties in accordance to the number of vehicles registered in that county. |
| Package: | None |
| Companion: | |
| Introducer(s): | TRIMBLE, Kokubun, Taniguchi, Hooser, Hanabusa, Chun Oakland, Aduja, Espero, Kim, Ige, English |
| Current Referral: | CPH/TMG, WAM |
| Date | Status Text | |
|---|---|---|
| 1/24/2003 | S | Introduced and passed First Reading. |
| 1/27/2003 | S | Referred to CPH/TMG, WAM. |
| 8/21/2003 | D | Carried over to 2004 Regular Session. |
$ = Appropriation measure
ConAm = Constitutional Amendment