Bill Text: HI HB2285 | 2014 | Regular Session | Introduced

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Bill Title: Taxation; Low-income Household Renters Credit

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-27 - Referred to FIN, referral sheet 6 [HB2285 Detail]

Download: Hawaii-2014-HB2285-Introduced.html

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HOUSE OF REPRESENTATIVES	H.B. NO.	2285
TWENTY-SEVENTH LEGISLATURE, 2014
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO INCOME TAX CREDIT FOR LOW-INCOME HOUSEHOLD RENTERS.

 

 

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 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;  provided that for taxable years beginning after December 31, 2014,_each taxpayer sixty-five years of age or over may claim triple 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  Statutory material to be repealed is bracketed and stricken.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 shall take effect upon its approval and shall apply to taxable years beginning after December 31, 2014.

 

INTRODUCED BY:	_____________________________
	BY REQUEST

 

 

Report Title:

Taxation; Low-income Household Renters Credit

 

Description:

Triples the low-income household renters credit for each taxpayer who is sixty-five years of age or older.

 

 

 

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