HI HB2064

Establishes an income tax credit for resident individuals and joint taxpayers with adjusted gross income of $100,000 or less who purchase public transportation passes during the taxable year.

Credit amount equals the amount spent on public transportation passes multiplied by the number of qualified exemptions the taxpayer is entitled to.

Applies to monthly or annual bus passes and passes for public transportation programs operated or contracted by the State or a county.

Requires all credit claims to be filed within twelve months following the close of the taxable year, with failure to comply constituting a waiver of the right to claim the credit.

Takes effect July 1, 2020, and applies to taxable years beginning after December 31, 2014.