Bill Text: HI HB1228 | 2013 | Regular Session | Introduced
Bill Title: Renewable Energy Technologies; Income Tax Credit
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: (Introduced - Dead) 2013-02-11 - The committee(s) on CPC recommend(s) that the measure be deferred. [HB1228 Detail]
Download: Hawaii-2013-HB1228-Introduced.html
HOUSE OF REPRESENTATIVES |
H.B. NO. |
1228 |
TWENTY-SEVENTH LEGISLATURE, 2013 |
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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. The legislature finds that the renewable energy technologies income tax credit is one method of meeting the goals of the Hawaii clean energy initiative to help lower the State's dependence on imported oil.
The purpose of this Act is to establish a "means test" to maintain the current renewable energy technologies income tax credit for individual taxpayers with an adjusted gross income of $100,000 or less, in order to make the installation of photovoltaic renewable energy systems affordable.
SECTION 2. Section 235-12.5, Hawaii Revised Statutes, is amended by amending subsection (e) to read as follows:
"(e) The director of taxation shall
prepare any forms that may be necessary to claim a tax credit under this
section, including forms identifying the technology type of each tax credit
claimed under this section, whether for solar or wind. The director may also
require the taxpayer to furnish reasonable information to ascertain the
validity of the claim for credit made under this section and may adopt rules
necessary to effectuate the purposes of this section pursuant to chapter 91[.];
provided that any rule adopted that requires a renewable energy technology
system to meet output capacity requirements in order for a taxpayer to be
eligible to claim a credit under this section shall not apply to a taxpayer
whose adjusted gross income is $100,000 or less (or $200,000 or less if filing
a tax return as married filing jointly)."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2012.
INTRODUCED BY: |
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Report Title:
Renewable Energy Technologies; Income Tax Credit
Description:
Amends the income tax credit for renewable energy technologies by providing that administrative rules that require a renewable energy technology system to meet output capacity requirements in order for a taxpayer to be eligible to claim the credit shall not apply to a taxpayer whose adjusted gross income is $100,000 or less.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.