Bill Text: HI HB492 | 2023 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Democrat 22-0)
Status: (Introduced - Dead) 2023-01-25 - Referred to ECD, FIN, referral sheet 1 [HB492 Detail]
Download: Hawaii-2023-HB492-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
492 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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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 235-55.75, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) Each qualifying
individual taxpayer may claim a refundable earned income tax credit. The tax credit, for the appropriate taxable
year, shall be [twenty] twenty-five per cent of the federal
earned income tax credit allowed and properly claimed under section 32 of the
Internal Revenue Code and reported as such on the individual's federal income
tax return."
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 Statutory material to be repealed is bracketed and stricken.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, 2022.
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INTRODUCED BY: |
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Report Title:
Earned Income Tax Credit; Taxation; Increase
Description:
Increases the state earned income tax credit from twenty to twenty-five percent of the federal earned income 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.
