Bill Text: HI SB885 | 2020 | Regular Session | Introduced
Bill Title: Relating To The Low-income Household Renters Credit.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2019-12-01 - Carried over to 2020 Regular Session. [SB885 Detail]
Download: Hawaii-2020-SB885-Introduced.html
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THE SENATE |
S.B. NO. |
885 |
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THIRTIETH LEGISLATURE, 2019 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the low-income household renters credit.
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] $60,000 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] $150 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 Statutory material to be repealed is bracketed and stricken.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, 2018.
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INTRODUCED BY: |
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Report Title:
Income Tax Credit; Low-income Household Renters Credit
Description:
Adjusts the low-income household renters credit by increasing the maximum value of the credit amount to $150 per qualified exemption for households, and adjusting the income threshold to allow households with an adjusted gross income of less than $60,000 to claim the credit.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
