Hawaii State Legislature

Bill Status

SB1895

Generated on 8/13/2007 4:08:19 PM

Measure Title:
RELATING TO WINDFALL PROFITS EARNED BY ENERGY COMPANIES.
Report Title:
Windfall Profits Tax
Description:
Imposes a windfall profits tax equal to 50% of the amount of the profits earned by energy-related production and distribution companies doing business in Hawaii when deemed to be excessive. Profits earned by a company would be considered "excessive" when these exceed twice the national average profit margin for such companies. Establishes a panel of advisors who would analyze industry figures to determine an average industry profit margin for such companies. Apportions taxes collected pursuant to this measure to the counties according to the number of vehicles registered in each.
Package:
None
Companion:
Introducers:
TRIMBLE, CHUN OAKLAND, Bunda, Hemmings, English
Current Referral:
ENE, EDT, WAM
Date Status Text
1/24/2007SIntroduced.
1/26/2007SPassed First Reading.
1/30/2007SReferred to ENE, EDT, WAM.

$ = Appropriation measure
ConAm = Constitutional Amendment

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