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HI HB1276

Bill

Official Source

Status

Engrossed

3/2/2017

Primary Sponsor

Justin Woodson

Click for details

Origin

House of Representatives

2017 Regular Session

AI Summary

  • Allows Hawaii residents to claim a state income tax deduction of up to $5,000 per year for student loan interest paid on qualified education loans.

  • Deduction applies to qualified education loans as defined by federal law (26 U.S. Code section 221).

  • Director of taxation may require taxpayers to provide reasonable documentation to verify the deduction claim and may adopt rules to administer the provision.

  • Effective July 1, 2017, and applies to taxable years beginning after December 31, 2016.

Legislative Description

Relating To Taxation.

Tax Deduction

Last Action

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.

3/23/2017

Committee Referrals

Ways and Means3/23/2017
Higher Education3/9/2017
Finance2/15/2017
Higher Education1/30/2017

Full Bill Text

No bill text available