Hawaii Bill Would Exclude Small Biz Virus Loans From Income

Hawaii would exclude small business loan amounts forgiven amid the novel coronavirus pandemic from state income, under a bill introduced in the state Senate.

S.B. 1254, which Sen. Gil Keith-Agaran, D-Wailuku, introduced Wednesday, would conform the state to the federal policy of excluding forgiven Paycheck Protection Program loans granted through the Coronavirus Aid, Relief and Economic Security Act from gross income.

If enacted, the bill would take immediate effect.

--Editing by Robert Rudinger.

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