Bill Text: HI SB1208 | 2024 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2024-02-09 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB1208 Detail]
Download: Hawaii-2024-SB1208-Introduced.html
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THE SENATE |
S.B. NO. |
1208 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
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 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] $100 multiplied by the
number of qualified exemptions to which the taxpayer is entitled; provided that
each taxpayer sixty-five years of age or over may claim double the tax credit; [and]
provided further 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 Statutory material to be repealed is bracketed and stricken.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, 2022.
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INTRODUCED BY: |
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Report Title:
Low-Income Household Renters; Income Tax Credit; Increase
Description:
Increases the low-income household renters' income tax credit. Applies to taxable years beginning after 12/31/2022.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
