HI SB2261

Adds a new income tax exclusion for eligible teachers, allowing up to $30,000 (or $60,000 if filing jointly with another eligible teacher) to be excluded from gross income.

Defines "eligible teacher" as a full-time school teacher, special education teacher, school librarian, or school counselor employed by the Department of Education or a charter school in Hawaii.

Requires eligible teachers to earn $60,000 or less in gross income and have federal adjusted gross income not exceeding $60,000 (individual) or $120,000 (joint filing).

Applies to taxable years beginning after December 31, 2019.

Effective date is July 1, 2050.