HI HB1193

Amends Section 235-55.6 of Hawaii Revised Statutes to modify the dependent care tax credit for resident taxpayers with qualifying individuals in their household.

Changes the applicable percentage of employment-related expenses that qualify for the tax credit across multiple adjusted gross income brackets (percentages left blank in the bill text for legislative determination).

Modifies the dollar cap limits on creditable employment-related expenses, changing from $2,400 for one qualifying individual and $4,800 for two or more (specific new amounts left blank in bill text).

Maintains refundability of the credit, allowing excess credits to be refunded to taxpayers with no income tax liability, with no refunds issued for amounts under $1.

Effective July 1, 2050, and applies to taxable years beginning after December 31, 2018.