HB 877 Summary

• Adds a new subsection (e) to Section 235-102.5 of Hawaii Revised Statutes allowing individuals and married couples filing joint returns to designate any portion of their state income tax refund to the Hawaiian home general loan fund established under the Hawaiian Homes Commission Act, 1920

• Requires the Director of Taxation to revise the individual state income tax form to display the designation option on the face of the return immediately above the signature lines

• Permits taxpayers to make a designation on an amended return filed within twenty months and ten days after the original return due date if no designation was made on the original return

• Specifies that once a designation is made on either an original or amended return, it cannot be revoked

• Makes the Act effective for taxable years beginning after December 31, 2018