HI SB2208

Amends Section 235-55.7 of Hawaii Revised Statutes regarding income tax credits for low-income household renters.

Increases the adjusted gross income threshold and the base tax credit amount, with specific dollar amounts left blank in the bill text.

Allows taxpayers who have paid more than $1,000 in rent during the taxable year to claim a tax credit multiplied by the number of qualified exemptions.

Provides that taxpayers age 65 or over may claim double the tax credit amount.

Effective date July 1, 2050, and applies to taxable years beginning after December 31, 2014.