HI HB732

Establishes an income tax credit for purchasing prepackaged disaster preparedness kits in Hawaii, deductible from net income tax liability.

Credit equals a percentage of qualified expenses (percentage amount not specified in bill) up to a maximum of $500, claimable only once before January 1, 2026.

Qualified expenses cover costs to purchase prepackaged disaster preparedness kits for taxpayer and household, limited to supplies providing a specified number of days (exact number not specified in bill) of nonperishable food, water, and other necessary supplies.

Excess credits exceeding tax liability may be carried forward to subsequent years until exhausted, with claims required to be filed within 12 months following the close of the taxable year.

Director of taxation authorized to prepare forms, require supporting documentation, and adopt rules necessary to administer the credit program.