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HI HB1702

Bill

Official Source

Status

Passed

7/13/2016

Primary Sponsor

Aaron Johanson

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Modifies the income tax credit for household and dependent care services by replacing the previous formula with a tiered percentage system based on adjusted gross income.

  • Establishes applicable credit percentages ranging from 25% for taxpayers with adjusted gross income not over $25,000 down to 15% for those over $50,000.

  • Maintains refundability of the credit, allowing excess amounts over tax liability to be refunded to taxpayers, with no refunds less than $1.

  • Applies to taxable years beginning after December 31, 2015.

Legislative Description

Income Tax Credit; Expenses for Household and Dependent Care Services Necessary for Gainful Employment

Last Action

Act 235, on 07/12/2016 (Gov. Msg. No. 1344).

7/13/2016

Committee Referrals

Ways and Means3/10/2016
Finance1/27/2016
Human Services1/25/2016

Full Bill Text

No bill text available