Residents in Hawaii can soon expect a stimulus payment worth up to $300 following the approval of tax rebate Senate Bill 514.
The stimulus payments would be either $100 or $300 depending on your income.
Taxpayers who make under $100,000 per year will see $300.
Taxpayers earning over $100,000 per year will see $100.
This will benefit those in the state who filed tax returns for 2021.
Dependents will also qualify for tax rebates, meaning families will see over $300 and $100 depending on their household size.
Tax rebate stimulus payments and the state of Hawaii
Lawmakers did not initially support the tax rebate stimulus idea.
That changed when the economy bounced back and tourism returned following the pandemic.
It used to be a law that when surpluses in tax revenue happened, they needed to be paid back to residents of the state.
The last payment approved was in 2007 for $160, before laws changed and required additional money to go into a rainy day fund.
In addition to residents receiving stimulus checks, they will also put $500 million into the rainy day fund and $300 million into the Employees Retirement System.