Bill Text: HI HB605 | 2010 | Regular Session | Introduced

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Bill Title: Tax Credits

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [HB605 Detail]

Download: Hawaii-2010-HB605-Introduced.html

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Report Title:

Tax Credits

 

Description:

Prohibits recipients of federal grants from qualifying for state tax credits.

 

HOUSE OF REPRESENTATIVES	H.B. NO.	605
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO TAXATION.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§235-     Tax credits; ineligibility.  Notwithstanding any law to the contrary, no taxpayer or recipient of a federal grant or moneys shall be eligible to claim any tax credit under this chapter if eligibility for the tax credit is dependent upon receipt of the federal grant or moneys."

     SECTION 2.  This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun, before its effective date.

     SECTION 3.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval and shall apply to taxable years beginning after December 31, 2008.

 

INTRODUCED BY:	_____________________________