HB 732 Summary

• Establishes a disaster preparedness supplies income tax credit for Hawaii taxpayers to help offset costs of emergency supplies.

• Allows each taxpayer to claim the credit only once before January 1, 2026, with the credit deductible from net income tax liability.

• Credit equals a percentage of qualified expenses (percentage amount not specified in bill text) up to a maximum of $500 per taxpayer.

• Defines "qualified expenses" as costs to purchase prepackaged disaster preparedness kits containing nonperishable food, water, and other supplies for a specified number of days (number of days not specified in bill text).

• Allows unused credits exceeding income tax liability to carry forward to subsequent years, with all claims required to be filed within 12 months following the close of the taxable year.