THE SENATE	S.B. NO.	1091
TWENTY-SEVENTH LEGISLATURE, 2013
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO ITEMIZED INCOME TAX DEDUCTIONS.

 

 

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

 

     SECTION 1.  Act 97, Session Laws of Hawaii 2011, is amended by amending section 3 to read as follows:

     "SECTION 3.  Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§235-    Itemized deductions; limitations.  Notwithstanding any other law to the contrary, itemized tax deductions claimed pursuant to this chapter shall not exceed the lesser of:

     (1)  The limitation on itemized deductions under section 68 of the Internal Revenue Code; or

     (2)  Any of the following that may be applicable:

         (A)  $25,000 for itemized deductions excluding charitable contributions in addition to the amount of charitable contributions otherwise deductible under this chapter for a taxpayer filing a single return or a married person filing separately with a federal adjusted gross income of $100,000 or more;

         (B)  $37,500 for itemized deductions excluding charitable contributions in addition to the amount of charitable contributions otherwise deductible under this chapter for a taxpayer filing as a head of household with a federal adjusted gross income of $150,000 or more; and

         (C)  $50,000 for itemized deductions excluding charitable contributions in addition to the amount of charitable contributions otherwise deductible under this chapter for a taxpayer filing a joint return or as a surviving spouse with a federal adjusted gross income of $200,000 or more."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act, upon its approval, shall apply to taxable years beginning after December 31, 2012.

 

INTRODUCED BY:	_____________________________
	BY REQUEST

 

 

Report Title:

Itemized Income Tax Deductions

 

Description:

Exempts charitable income tax deductions from the itemized deduction caps.

 

 

 

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