HI SB1014

Increases the tax credit for household and dependent care services expenses by raising the taxpayer's applicable percentage across all adjusted gross income brackets (e.g., from 25% to 75% for income not over $25,000; from 15% to 25% for income over $50,000).

Increases dollar limits on creditable expenses from $2,400 to $13,000 for one qualifying individual and from $4,800 to $26,000 for two or more qualifying individuals.

Requires the Department of Taxation to annually adjust adjusted gross income thresholds and dollar limits for inflation based on the urban Hawaii consumer price index, effective January 1 each year beginning 2021.

Applies to taxable years beginning after December 31, 2019, with an effective date of July 1, 2050.

Makes technical corrections to statutory language, including grammar and citation updates to align with current legislative drafting standards.