HI HB180

Provides a nonrefundable income tax credit to taxpayers who hire individuals age 67 or older, equal to 50 percent of qualified wages earned during the first six months of employment.

Credits exceeding a taxpayer's income tax liability may be carried forward to subsequent taxable years until exhausted, with an annual per-taxpayer limit (amount to be specified).

Excludes wages paid to elderly individuals who are related to the taxpayer, own more than 50 percent of a corporation's stock, or were previously employed by the same employer.

Requires credit claims to be filed within 12 months following the taxable year; late claims are forfeited.

Takes effect January 1, 2050 and applies to taxable years beginning after December 31, 2018.