Bill Text: HI SB438 | 2019 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Engrossed - Dead) 2019-03-07 - Referred to EEP/TRN, FIN, referral sheet 27 [SB438 Detail]
Download: Hawaii-2019-SB438-Introduced.html
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THE SENATE |
S.B. NO. |
438 |
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THIRTIETH LEGISLATURE, 2019 |
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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. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235- Electric vehicle charging system tax
credit. (a) Each year during the credit period, there
shall be allowed to each taxpayer subject to the taxes imposed by this chapter,
an electric vehicle charging system tax credit that shall be applied to the
taxpayer's net income tax liability, if any, imposed by this chapter for the
taxable year in which the credit is properly claimed.
(b) The amount of the tax credit shall be equal
to per cent of the qualified costs incurred by
the taxpayer to install or operate the electric vehicle charging system during
the taxable year up to a maximum of
$ in qualified
costs in any taxable year; provided that unless otherwise provided by law, use
of the electric vehicle charging system is provided to the public.
(c) If the tax credit under this section exceeds
the taxpayer's net income tax liability, the excess of credit over liability
may be used as a tax credit against the taxpayer's net income tax liability in
subsequent years until exhausted. All
claims for a tax credit under this section, including amended claims, shall be
filed on or before the end of the twelfth month following the close of the
taxable year for which the tax credit may be claimed. Failure to comply with the foregoing
provision shall constitute a waiver of the right to claim the tax credit.
(d) No other tax credit may be claimed under this
chapter for the qualified costs used to properly claim a tax credit under this
section for the taxable year.
(e) The director of taxation:
(1) Shall prepare
any forms that may be necessary to claim a tax credit under this section;
(2) May require the
taxpayer to furnish reasonable information to ascertain the validity of the
claim for the tax credit made under this section; and
(3) May adopt rules
pursuant to chapter 91 to implement the purposes of this section.
(f) The tax credit allowable in this section
shall be available for taxable years beginning after December 31, 2018.
(g) For purposes of this section:
"Electric vehicle charging system" shall have the same meaning as in section 291-71.
"Qualified costs" means all costs and expenses directly resulting from the installation and operation of an electric vehicle charging system that is made available for public use."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2018.
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INTRODUCED BY: |
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Report Title:
Electric Vehicle Charging System; Tax Credit
Description:
Provides an income tax credit to taxpayers who install or operate an electric vehicle charging system that is available for use by the public, unless otherwise required by law.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
