HI HB1782

Establishes an income tax credit for owner-occupants who install automatic fire sprinkler systems in residential properties, including single-family homes, condominiums, and apartments.

Tax credit applies to a percentage of actual costs including installation, water, and permit fees, with a maximum credit per tax map key number.

Eligible for taxable years beginning after December 31, 2018 but not after December 31, 2028.

Only one credit allowed per property, and basis for depreciation purposes must be reduced by the credit amount claimed.

Excess credits exceeding annual tax liability may be carried forward to subsequent years until exhausted.