HI SB2964

Authorizes a state income tax deduction for qualified student loan interest paid on tuition expenses at the University of Hawaii system.

Allows deduction from gross income for qualified student loan interest paid during the taxable year, up to a maximum amount (not specified in draft), including both required and voluntary interest payments.

Defines "qualified education expenses" as tuition costs for students enrolled at least half-time in a University of Hawaii system program leading to a degree, certificate, or other recognized educational credential.

Defines "qualified student loan interest" as interest on loans for the taxpayer, spouse, or dependent's education expenses, excluding interest on loans from related persons or qualified employer plans.

Applies to taxable years beginning after December 31, 2011, upon approval of the Act.