Bill Text: HI SB2202 | 2014 | Regular Session | Amended
Bill Title: Refundable Food/Excise Tax Credit
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Engrossed - Dead) 2014-03-21 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Jordan voting aye with reservations; none voting no (0) and Representative(s) Tokioka, Ward, Yamane excused (3). [SB2202 Detail]
Download: Hawaii-2014-SB2202-Amended.html
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THE SENATE |
S.B. NO. |
2202 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
S.D. 1 |
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STATE OF HAWAII |
H.D. 1 |
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A BILL FOR AN ACT
RELATING TO TAX CREDITS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-55.85, Hawaii Revised Statutes, is amended as follows:
"§235-55.85 Refundable food/excise tax
credit. (a) Each [resident] individual taxpayer[,] who
files an individual income tax return for a taxable year[,] and who is
not claimed or is not otherwise eligible to be claimed as a dependent by
another taxpayer for federal or Hawaii state individual income tax purposes,
may claim a refundable food/excise tax credit against the [resident]
taxpayer's individual income tax liability for the taxable year for which the
individual income tax return is being filed; provided that [a resident] an
individual who has no income or no income taxable under this chapter and who is
not claimed or is not otherwise eligible to be claimed as a dependent by a
taxpayer for federal or Hawaii state individual income tax purposes may claim
this credit.
(b) Each [resident] individual taxpayer
may claim a refundable food/excise tax credit multiplied by the number of
qualified exemptions to which the taxpayer is entitled in accordance with the
table below; provided that a husband and wife filing separate tax returns for a
taxable year for which a joint return could have been filed by them shall claim
only the tax credit to which they would have been entitled had a joint return
been filed.
Adjusted gross income Credit per exemption
Under [$5,000] $ [$85]
$
[$5,000] $ under [$10,000]
$ [75] $
[$10,000] $ under
[$15,000] $ [65] $
[$15,000] $ under [$20,000]
$ [55] $
[$20,000] $ under [$30,000]
$ [45] $
[$30,000] $ under [$40,000]
$ [35] $
[$40,000] $ under [$50,000]
$ [25] $
[$50,000] $ and over
$
[(c) For the purposes of this section, a
qualified exemption is defined to include those exemptions permitted under this
chapter; provided that no additional exemption may be claimed by a taxpayer who
is sixty-five years of age or older; provided that a person for whom exemption
is claimed has physically resided in the State for more than nine months during
the taxable year; and provided further that multiple exemptions shall not be
granted because of deficiencies in vision or hearing, or other disability. For
purposes of claiming this credit only, a minor child receiving support from the
department of human services of the State, social security survivor's benefits,
and the like, may be considered a dependent and a qualified exemption of the
parent or guardian.
(d)] (c) The tax credit under
this section shall not be available to:
(1) Any person who has been convicted of a felony and who has been committed to prison and has been physically confined for the full taxable year;
(2) Any person who would otherwise be eligible to be claimed as a dependent but who has been committed to a youth correctional facility and has resided at the facility for the full taxable year; or
(3) Any misdemeanant who has been committed to jail and has been physically confined for the full taxable year.
[(e)] (d) The tax credits
claimed by a [resident] taxpayer pursuant to this section shall be
deductible from the [resident] taxpayer's individual income tax
liability, if any, for the tax year in which they are properly claimed. If the
tax credits claimed by a [resident] taxpayer exceed the amount of income
tax payment due from the [resident] taxpayer, the excess of credits over
payments due shall be refunded to the [resident] taxpayer; provided that
tax credits properly claimed by [a resident] an individual who
has no income tax liability shall be paid to the [resident] individual; and provided
further that no refunds or payment on account of the tax credits allowed by
this section shall be made for amounts less than $1.
[(f)] (e) All claims for tax
credits under this section, including any amended claims, shall be filed on or
before the end of the twelfth month following the close of the taxable year for
which the credits may be claimed. Failure to comply with the foregoing
provision shall constitute a waiver of the right to claim the credit.
[(g)] (f) For the purposes of
this section[, "adjusted]:
"Adjusted gross income" means adjusted gross income as defined by the Internal Revenue Code.
"Qualified exemption" means those exemptions permitted under this chapter; provided that no additional exemption may be claimed by a taxpayer who is sixty-five years of age or older; provided further that a person who claims such an exemption shall have physically resided in the State for more than nine months during the taxable year; provided further that multiple exemptions shall not be granted because of deficiencies in vision or hearing or other disability. For purposes of claiming this credit only, a minor child receiving support from the department of human services, social security survivor's benefits, and the like, may be considered a dependent and a qualified exemption of the child's parent or guardian."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050, and shall apply to taxable years beginning after December 31, 2014.
Report Title:
Refundable Food/Excise Tax Credit
Description:
Amends the refundable food/excise tax credit, including by amending income-based credit amounts. Effective July 1, 2050. (SB2202 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
