HI HB1671

Creates a nonrefundable income tax credit for taxpayers who hire elderly individuals (age 60 or older), equal to 50% of qualified wages for the first six months of employment.

Credit amount per taxpayer per year is capped at a blank dollar amount (to be determined), though unused credits may be carried forward to subsequent taxable years.

Excludes wages paid to elderly individuals who are family members, dependents, or corporate owners of more than 50%, as well as anyone previously employed by the same employer.

Requires tax credit claims to be filed within 12 months following the taxable year, or the right to claim the credit is forfeited.

Applies to taxable years beginning after December 31, 2017, with the director of taxation authorized to create forms and adopt rules for implementation.