Bill Text: HI HB1631 | 2022 | Regular Session | Amended
Bill Title: Relating To Water Conservation.
Spectrum: Partisan Bill (Democrat 19-0)
Status: (Engrossed - Dead) 2022-03-16 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [HB1631 Detail]
Download: Hawaii-2022-HB1631-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1631 |
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THIRTY-FIRST LEGISLATURE, 2022 |
H.D. 1 |
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STATE OF HAWAII |
S.D. 1 |
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A BILL FOR AN ACT
RELATING TO WATER CONSERVATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that water catchment systems can be cost-effective, reliable, and safe fresh water sources that reduce consumer demand on existing fresh water. The legislature further finds that water catchment systems can promote water conservation; mitigate flooding; and conserve energy needed to pump, treat, and transport fresh water for consumer use.
The purpose of this Act is to provide a nonrefundable income tax credit for each Hawaii homeowner who installs and places into service a water catchment system that meets certain requirements.
SECTION 2. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235- Water
catchment tax credit. (a) Each
qualified taxpayer who files an individual income tax return for a taxable year
may claim a nonrefundable income tax credit of $100 under this section against the
taxpayer's net income tax liability for the taxable year for which the income tax
return is being filed.
(b) The
director of taxation shall prepare any forms that may be necessary to claim a tax
credit under this section. The director may
also require the taxpayer to furnish reasonable information to ascertain the validity
of the claim for the credit made under this section and may adopt rules, pursuant
to chapter 91, necessary to implement this section.
(c) Each
qualified taxpayer may claim no more than one tax credit under this section. The tax credit claimed by a taxpayer pursuant
to this section shall be deductible from the taxpayer's individual income tax
liability, if any, for the tax year in which the tax credit is properly claimed. If the tax credit claimed by a taxpayer
exceeds the amount of income tax payment due from the taxpayer, the excess of the
credit over liability may be used as a credit against the taxpayer's income tax
liability in subsequent years until exhausted.
(d)
All claims for a tax credit under this section, including any amended
claims, shall be filed on or before the end of the twelfth month following the close
of the taxable year for which the credit may be claimed. Failure to comply with the foregoing
provision shall constitute a waiver of the right to claim the credit.
(e) As
used in this section, "qualified taxpayer" means a taxpayer who has installed
and placed in service during the taxable year a water catchment system with a minimum
capacity of one thousand gallons on a residential property located in the State
that is owned by the taxpayer."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2022, and shall apply to taxable years beginning after December 31, 2022.
Report Title:
Water Catchment Income Tax Credit; Water Conservation
Description:
Creates a nonrefundable water catchment income tax credit for homeowners who install a water catchment system meeting certain requirements on residential property in the State owned by the homeowners. (SD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
