HI HB525

Establishes a nonrefundable income tax credit for taxpayers who hire an elderly individual (age 60 or older) in Hawaii.

Credit equals 50% of qualified wages paid during the first six months after the elderly individual is initially hired by the employer.

Annual credit is capped at an unspecified dollar amount per taxpayer, with excess credits carrying forward to subsequent years until exhausted.

Excludes wages paid to elderly individuals who are family members, related parties, dependents, or previously employed by the same employer.

Applies to taxable years beginning after December 31, 2018; claims must be filed within 12 months following the applicable taxable year.