HI HB806

Adds a new motor vehicle trade-in tax credit to Chapter 235, Hawaii Revised Statutes, allowing taxpayers to claim a credit (amount unspecified in bill text) when trading in a vehicle free of liens and purchasing a new personal motor vehicle in the same taxable year.

Allows the tax credit to be refunded to taxpayers if it exceeds their net income tax liability, with no refunds issued for amounts less than $1.

Requires proof of available off-street parking (not on public streets) as a condition for vehicle registration applications, as determined by the director of finance.

Establishes an additional registration fee (amount unspecified in bill text) for individuals holding three or more unexpired vehicle registration certificates in their individual capacity, with collected fees deposited into the highway beautification and abandoned vehicle disposal revolving fund.

Takes effect January 1, 2020, with the tax credit provision applying to taxable years beginning after December 31, 2019.