Bill Text: HI HB1061 | 2016 | Regular Session | Introduced
Bill Title: Income Tax Credit; Low-Income Household Renters
Spectrum: Moderate Partisan Bill (Democrat 12-2)
Status: (Introduced - Dead) 2015-12-17 - Carried over to 2016 Regular Session. [HB1061 Detail]
Download: Hawaii-2016-HB1061-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1061 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to THE income tax credit for low-income household renters.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-55.7, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:
"(c) Each taxpayer with an adjusted gross
income of less than [$30,000] $59,700 who has paid more than
$1,000 in rent during the taxable year for which the credit is claimed may
claim a tax credit of [$50] $146 multiplied by the number of
qualified exemptions to which the taxpayer is entitled; provided each taxpayer
sixty-five years of age or over may claim double the tax credit; and provided
that a resident individual who has no income or no income taxable under this
chapter may also claim the tax credit as set forth in this section."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2014.
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INTRODUCED BY: |
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Report Title:
Income Tax Credit; Low-Income Household Renters
Description:
Raises the adjusted gross income threshold and increases the tax credit amount for low-income household renters.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
