What progress has been made to bring down the cost of living in Hawaiʻi?

PART I: Repeals certain future adjustments to income tax brackets. Changes income tax rates. Amends the child and dependent care tax credit by: (1) Changing the applicable percentage of the employment-related expenses for which the credit may be claimed to an unspecified percentage; (2) Providing for a disallowance period when there is a final administrative or judicial decision finding that the claim was due to fraud or disallowing the credit; and (3) Defining "adjusted gross income". Extends the repeal date for amendments made by Act 163, SLH 2023 to the child and dependent care tax credit, earned income tax credit, and food/excise tax credit to an unspecified date. PART II: Beginning 1/1/2029, repeals the following tax credits: Renewable Energy Technologies Income Tax Credit, Capital Goods Excise Tax Credit, High Technology Business Investment Tax Credit, Renewable Fuels Production Tax Credit, Technology Infrastructure Renovation Tax Credit, Ship Repair Industry Tax Credit, and Tax Credit for Research Activities. Effective 7/1/2050. (SD1)

Restructures the conveyance tax to a marginal rate system for the sale of properties with residential use, adjusts the tax for multifamily properties to reflect value on a per-unit basis, and applies a cost-of-living adjustment to conveyance tax rates. Allocates a portion of conveyance tax collections to the Dwelling Unit Revolving Fund, Hawaiian Home Lands Infrastructure and Housing Special Fund, and Special Land and Development Fund. Establishes and appropriates funds out of the Hawaiian Home Lands Infrastructure and Housing Special Fund. Effective 7/1/3000. (HD1)

Proposes amendments to the Hawaiʻi State Constitution to repeal the counties' exclusive power to tax real property, and to authorize the Legislature to establish a state surcharge on real property taxes levied by the counties on certain residential investment properties, for the purpose of helping to fund public education for all of Hawaiʻi's children and adults. Effective 7/1/3000. (HD2)

Appropriates funds to the Office of Community Services (OCS) to award grants to certain nonprofit organizations. Establishes an evaluation and selection committee to oversee the awarding of grants. Requires an applicant for a grant to provide certain documentation on activities that qualify for community engagement hours to qualify for the grant. Appropriates funds for positions in OCS and for the Department of the Attorney General to assist OCS in reviewing contracts and monitoring costs. Effective 7/1/3000. (HD2)