Bill Text: HI HB1827 | 2020 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2020-01-21 - Referred to FIN, referral sheet 2 [HB1827 Detail]
Download: Hawaii-2020-HB1827-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1827 |
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THIRTIETH LEGISLATURE, 2020 |
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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 235-55.85, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) Each individual taxpayer may claim a refundable food/excise tax credit multiplied by the number of qualified exemptions to which the taxpayer is entitled in accordance with the table below; provided that a husband and wife filing separate tax returns for a taxable year for which a joint return could have been filed by them shall claim only the tax credit to which they would have been entitled had a joint return been filed.
Adjusted gross income Credit per exemption
for taxpayers filing
a single
return
Under
[$5,000] $20,000 [$110] $330
[$5,000]
$20,000 under [$100] $300
[$10,000]
$30,000
[$10,000]
$30,000 under [$ 85] $255
[$15,000]
$40,000
[$15,000]
$40,000 under [$ 70] $210
[$20,000]
$50,000
[$20,000]
$50,000 under [$ 55] $165
[$30,000]
$60,000
[$30,000]
$60,000 and over $
0.
Adjusted gross income Credit per exemption
for heads of household,
married individuals filing
separate returns, and
married couples filing
joint returns
Under
[$5,000] $40,000 [$110] $330
[$5,000]
$40,000 under [$100] $300
[$10,000]
$60,000
[$10,000]
$60,000 under [$ 85] $255
[$15,000]
$80,000
[$15,000]
$80,000 under [$ 70] $210
[$20,000]
$100,000
[$20,000]
$100,000 under [$ 55] $165
[$30,000]
$120,000
[$30,000]
$120,000 under [$ 45] $135
[$40,000]
$140,000
[$40,000]
$140,000 under [$ 35] $105
[$50,000]
$160,000
[$50,000]
$160,000 and over $ 0."
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 Statutory material to be repealed is bracketed and stricken.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, 2019.
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INTRODUCED BY: |
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Report Title:
Tax Credits; Refundable Food/Excise Tax Credit
Description:
Increases the allowable amount and amends the income brackets of the refundable food/excise tax credit.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
