HI HB192

Creates a nonrefundable income tax credit for taxpayers who hire elderly individuals (age 67 or older), equal to 50% of qualified wages for the first six months of employment.

Credit may be carried forward to subsequent taxable years if it exceeds the taxpayer's income tax liability in the current year.

Excludes wages paid to elderly individuals who are related to the taxpayer, who own more than 50% of a corporation's stock, or who were previously employed by the taxpayer.

Requires claims for the tax credit to be filed within 12 months following the taxable year in which the credit is claimed, or the right to claim the credit is waived.

Applies to taxable years beginning after December 31, 2018.