HB 799 Summary

• Establishes a wind resistive device tax credit for Hawaii taxpayers who purchase and install qualifying wind resistive devices in non-condominium residential dwellings located in the State.

• Credit amount is calculated as a percentage of costs incurred for purchasing and installing wind resistive devices, including accessories and installation but excluding unrelated consumer incentives.

• Insurance Commissioner must develop specifications and requirements for four types of wind resistive devices: uplift restraint ties, additional roof fastening, impact-resistant exterior protective devices, and wall-to-foundation uplift connections.

• Taxpayers must file necessary documentation and written verification from a qualified inspector with the Insurance Commissioner, who will certify the credit amount; unused credits may be carried forward to subsequent tax years.

• Act takes effect January 1, 2050, and applies to taxable years beginning after December 31, 2019.