SUBJECT:  INCOME, Repeal High Tax Brackets, Add Debarment Provisions to Low Income Credits, Repeal Business Tax Credits 

BILL NUMBER: SB 3125 SD1 

INTRODUCED BY:  WAM 

EXECUTIVE SUMMARY: PART I: Repeals certain future adjustments to income tax brackets. Changes income tax rates. Amends the child and dependent care tax credit by: (1) Changing the applicable percentage of the employment-related expenses for which the credit may be claimed to an unspecified percentage; (2) Providing for a disallowance period when there is a final administrative or judicial decision finding that the claim was due to fraud or disallowing the credit; and (3) Defining “adjusted gross income”. Extends the repeal date for amendments made by Act 163, SLH 2023 to the child and dependent care tax credit, earned income tax credit, and food/excise tax credit to an unspecified date. PART II: Beginning 1/1/2029, repeals the following tax credits: Renewable Energy Technologies Income Tax Credit, Capital Goods Excise Tax Credit, High Technology Business Investment Tax Credit, Renewable Fuels Production Tax Credit, Technology Infrastructure Renovation Tax Credit, Ship Repair Industry Tax Credit, and Tax Credit for Research Activities. Effective 7/1/2050. (SD1) 

SYNOPSIS:  Amends section 235-51, HRS, by deleting tax brackets in the modifications in the tax rate schedules that are scheduled to take effect in 2027 and 2029:  Continue reading SB 3125 SD1  →

SUBJECT: INCOME, Restrict Renewable Energy Technologies; Income Tax Credit to Taxpayers Under $250K AGI  

BILL NUMBER: SB 3183 SD2

INTRODUCED BY:  WAM

EXECUTIVE SUMMARY: Prohibits individually or jointly filing taxpayers with an adjusted gross income of $250,000 or greater from claiming the renewable energy technologies income tax credit for certain solar energy systems installed and placed in service on a single-family residential property, with certain exemptions. Increases the adjusted gross income requirements for an individual taxpayer to elect to have any excess credits refunded. Applies to taxable years beginning after 12/31/26. Effective 4/19/2042. (SD2)

SYNOPSIS:  Amends sec 235-12.5(b), HRS, for tax credit claims on solar energy systems installed and placed in service on a single-family residential property for taxable years beginning after December 31, 2026.  The tax credit shall be available if the taxpayer’s adjusted gross income is $250,000 or less, whether filing an individual or joint tax return.  Continue reading SB 3183 SD2  →

SUBJECT: INCOME. Healthcare Preceptor Tax Credit; Physician Assistants; Dietitians; Social Workers; Residency Programs; Preceptor Credit Assurance Committee; Director of Health

BILL NUMBER: HB 1591 HD1

INTRODUCED BY: HLT

EXECUTIVE SUMMARY: Expands the definitions of “preceptor” and “volunteer‑based supervised clinical training rotation” applicable to the Healthcare Preceptor Tax Credit to improve accessibility for providers to receive income tax credits for acting as preceptors, including removing “primary care” from the criteria to qualify as a preceptor. Adds physician assistants, dietitians, and social workers to the list of preceptors and eligible students. Expands eligibility for the tax credit to include accredited residency programs that require preceptor support. Adds the Director of Health and representatives of residency programs with eligible students to the Preceptor Credit Assurance Committee. Effective 7/1/3000. (HD1)

SYNOPSIS:  Amends section 235-110.25, HRS, to define “eligible student” as an advanced practice registered nurse student, medical student, pharmacy student, physician assistant student, dietitian, or social work student or resident who is enrolled in an eligible academic program, residency program, or fellowship.  Continue reading HB 1591 HD1  →

SUBJECT:  INCOME, Tax Credit for Automated External Defibrillator Devices in Places of Public Accommodation 

BILL NUMBER: HB 1535 HD 2 

INTRODUCED BY: FIN 

EXECUTIVE SUMMARY: Establishes an income tax credit for the purchase and installation of automated external defibrillator devices by certain places of public accommodation. 

SYNOPSIS:  Adds a new section to chapter 235, HRS, to establish an automated external defibrillator subsidization tax credit.  The amount of the credit is $500 per device purchased and installed in a place of public accommodation with 25 or more employees operated by the taxpayer, up to a maximum of $_____ per qualified taxpayer.  Continue reading HB 1535 HD 2  →

SUBJECT: INCOME, Makes Tax Credit for Research Activities Apply to Gross, Not Incremental, Research Expenses

BILL NUMBER: HB 2546, SB 3213

INTRODUCED BY: HB by NAKAMURA, HARTSFIELD, ILAGAN, KEOHOKAPU-LEE LOY, KITAGAWA, KUSCH, MIYAKE, MORIKAWA, PERRUSO, TEMPLO; SB by HASHIMOTO

EXECUTIVE SUMMARY: Restores the provision that makes references to the Internal Revenue Code’s base-amount requirement inapplicable to the Research Activities Tax Credit, allowing all qualified research expenses to be claimed without regard to prior-year expenses. Increases the annual cap for the Research Activities Tax Credit.

Continue reading HB 2546, SB 3213 →

SUBJECT:  INCOME, Enhance Limits for Individual Housing Accounts

BILL NUMBER: HB 1837; SB 2552

INTRODUCED BY:  HB by ILAGAN, AMATO, BELATTI, EVSLIN, GARCIA, GEDEON, GRANDINETTI, HUSSEY, KILA, KUSCH, MARTEN, MATAYOSHI, MIYAKE, MORIKAWA, PIERICK, POEPOE, REYES ODA, SAYAMA, SHIMIZU, SOUZA, TAKAYAMA, TAM, WOODSON; SB by HASHIMOTO, CHANG, FEVELLA, KIDANI, INOUYE

EXECUTIVE SUMMARY: For taxable years beginning 1/1/2027, increases the maximum annual deduction for contributions to, and maximum account levels for, individual housing accounts.

Continue reading HB 1837; SB 2552 →

SUBJECT:  INCOME, Apprenticeship Program Income Tax Credit

BILL NUMBER: HB 1851 HD1

INTRODUCED BY: LAB

EXECUTIVE SUMMARY: Establishes an apprenticeship program income tax credit for certain qualified costs incurred by a qualified apprenticeship program. Contains an unspecified sunset date. Effective 7/1/3000. (HD1)

Continue reading HB 1851 HD1 →