HI SB2218

Creates a nonrefundable tax credit for taxpayers who hire an elderly individual (age 60 or older) equal to 50 percent of qualified wages paid to that employee.

Limits the credit to wages earned during the first six months after the elderly individual is initially hired by the employer.

Allows unused credits to carry forward to subsequent tax years, though the credit cannot exceed a specified annual cap per taxpayer (amount to be determined by director of taxation).

Excludes wages paid to elderly individuals who are related to the employer, previously employed by the employer, or claimed as dependents by the employer.

Applies to taxable years beginning after December 31, 2016, with claims required to be filed within 12 months following the taxable year.