HI HB179

Allows taxpayers to claim an income tax credit for hiring a senior citizen (age 65 or older) for a business they own.

Credit equals 50% of qualified wages paid during the first six months after a senior citizen is hired.

Unused credits exceeding a taxpayer's annual income tax liability can be carried forward to subsequent years until exhausted.

Director of Taxation must prepare necessary claim forms, can require supporting documentation, and may adopt administrative rules to implement the credit.

Claims must be filed within 12 months following the taxable year in which the credit is claimed, or the right to claim is waived; applies to taxable years beginning after December 31, 2010.