Bill Text: HI HB2704 | 2018 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Strong Partisan Bill (Democrat 10-1)
Status: (Introduced - Dead) 2018-02-08 - The committee(s) on HSG recommend(s) that the measure be deferred. [HB2704 Detail]
Download: Hawaii-2018-HB2704-Introduced.html
|
HOUSE OF REPRESENTATIVES |
H.B. NO. |
2704 |
|
TWENTY-NINTH LEGISLATURE, 2018 |
|
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
relating to taxation.
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] $100
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 Statutory material to be repealed is bracketed and stricken.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, 2017.
|
INTRODUCED BY: |
_____________________________ |
|
|
|
|
|
|
Report Title:
Income Tax Credit; Low-Income Renters; Taxation
Description:
Increases the income tax credit for low-income renters.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
