HI HB571

Establishes a temporary, refundable income tax credit for owners of real property in Hawaii who pay for albizia tree trimming or removal.

Credit applies to qualifying costs incurred after December 31, 2019, and is available for taxable years beginning after December 31, 2019, through December 31, 2021.

Work must be performed by a certified arborist who is insured, bonded, and licensed, or by an insured and bonded tree trimming/landscaping entity with a certified arborist on staff.

Credit is deductible from net income tax liability and is refundable if it exceeds tax liability; claims must be filed within twelve months following the close of the taxable year.

Eligible taxpayers are property owners in Hawaii with albizia trees who are not claimed as dependents by another taxpayer; partnerships, S corporations, estates, and trusts may also claim the credit.