HI HB385

Establishes a refundable state Earned Income Tax Credit equal to a percentage of the federal Earned Income Tax Credit for eligible individual taxpayers filing Hawaii income tax returns and not claimed as dependents.

Allows taxpayers to receive refunds if the state tax credit exceeds income tax liability owed, with a minimum refund threshold of $1.

Requires the Department of Human Services to offer financial education covering consumer, economic, and personal finance concepts to applicants for and recipients of Temporary Assistance for Needy Families programs.

Appropriates unspecified funds for fiscal years 2013-2014 and 2014-2015 to support the Department of Human Services in delivering financial education programs.

Takes effect July 1, 2050, and applies to taxable years beginning after December 31, 2012, implementing recommendations from the Hawaii state asset building and financial education task force.