HI HB180

Establishes a nonrefundable income tax credit for taxpayers who hire individuals age 67 or older, equal to 50 percent of qualified wages paid during the first six months of employment.

Limits annual credit claims to a maximum amount per taxpayer (specific dollar amount not specified in bill text) and allows unused credits to carry forward to subsequent tax years.

Excludes wages paid to elderly individuals who are related to the taxpayer, own more than 50 percent of corporate stock, or were previously employed by the same employer.

Requires credit claims to be filed within 12 months following the taxable year, with late claims constituting a waiver of the credit right.

Takes effect January 1, 2050 and applies to taxable years beginning after December 31, 2018.