Bill Text: HI SB1225 | 2010 | Regular Session | Introduced

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Bill Title: Tax Credit; Shelter in Place; Emergency Food and Supplies

Spectrum: Moderate Partisan Bill (Democrat 9-1)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB1225 Detail]

Download: Hawaii-2010-SB1225-Introduced.html

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Report Title:

Tax Credit; Shelter in Place; Emergency Food and Supplies

 

Description:

Provides a tax credit for taxpayers who purchase and maintain a seven-day supply of non-perishable food, water, and other necessary supplies in order to shelter in place during a natural disaster or emergency situation.

 

THE SENATE	S.B. NO.	1225
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-    Emergency food supply tax credit.  (a)  Any taxpayer who files an individual income tax return under this chapter for the taxable year may claim an income tax credit under this section against the taxpayer's net income tax liability.

     (b)  The tax credit shall be equal to $100; provided that the taxpayer purchases and maintains a seven-day supply of non-perishable food, water, and other necessary supplies for use by the taxpayer and the taxpayer's family in times of emergencies or natural disasters including, but not limited to, hurricanes, tsunamis, earthquakes, and avian flu epidemics.

     (c)  If the tax credit under this section exceeds the taxpayer's net income tax liability for the taxable year, the excess of the credit over liability shall be refunded to the taxpayer; provided that if the taxpayer properly claims the credit and does not have a net income tax liability, the tax credit shall be refunded to the taxpayer; provided further that no refunds or payments on account of the tax credit allowed by this section shall be made for amounts less than $1.

     (d)  The director of taxation shall prepare any forms that may be necessary to claim a credit under this section.  The director may also require the taxpayer to furnish information through providing receipts or other means to ascertain the validity of the claim for credit made under this section and may adopt rules necessary to effectuate the purposes of this section pursuant to chapter 91.

     (e)  All of the provisions relating to assessments and refunds under this chapter and under section 231-23(c)(1) shall apply to the tax credit under this section.

     (f)  Claims for the tax credit under this section, including any amended claims, shall be filed on or before the end of the twelfth month following the taxable year for which the credit may be claimed."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act, upon its approval, shall apply to taxable years beginning after December 31, 2008.

 

INTRODUCED BY:	_____________________________