Vote Smart's Synopsis:

Vote to pass a bill increases the state minimum wage.

Highlights:

• Requires every employer to pay each of their employees a rate no less than (Sec. 3):

• $11 per hour beginning January 1, 2021; 

• $12 per hour beginning January 1, 2022; 

• $12.50 per hour beginning January 1, 2023; and

• $13 per hour beginning January 1, 2024. 

• Authorizes each individual taxpayer with income of less than $30,000 to claim a refundable $150 food and excise tax credit, provided that for taxpayers with a filing status of head of household, married filing separate, and married filed jointly, the taxpayer has Hawaii earned income of less than $50,000 and federal adjusted gross income of less than $50,000 (Sec. 2). 

• Authorizes a qualifying individual taxpayer to claim a refundable earned income tax credit (Sec. 1).

• Specifies that the tax credit will be 20 percent of the federal earned income tax credit claimed and reported on the individual’s federal income tax return (Sec. 1).

• Specifies that if the tax credit claimed by the taxpayer exceeds the amount of the income tax payments due from the taxpayer, the excess of credit of payments due will be refunded to the taxpayer (Sec. 1).

Full Bill Text