HI SB945

Creates a refundable state earned income tax credit equal to a percentage of the federal earned income tax credit for resident individuals who file Hawaii income tax returns and are not claimed as dependents.

Requires the Department of Human Services to offer financial education covering earning, budgeting, spending, saving, investing, and taxation to applicants for and recipients of Temporary Assistance for Needy Families (TANF).

Appropriates funds for fiscal years 2011-2012 and 2012-2013 for the Department of Human Services to provide financial education and for fiduciary organizations to conduct individual development account programs.

Amends individual development account provisions to allow fiduciary organizations to use up to 25 percent (increased from 10 percent) of state funds for operating costs and requires the Department of Human Services to contract with an appropriate agency for technical and administrative assistance.

Applies to taxable years beginning after December 31, 2010, with appropriation sections taking effect July 1, 2011.