HI HB206

Establishes a state income tax credit equal to 30% of the actual cost of installing an automatic fire sprinkler system in new one- or two-family owner-occupied residential dwellings, including installation, materials, water, and permitting fees.

Limits the tax credit to a maximum of $5,000 per dwelling unit and allows only one credit per tax map key number.

Permits unused tax credits to be carried forward to subsequent tax years until fully exhausted.

Prohibits claiming the tax credit if the State or a county requires automatic fire sprinkler system installation by law.

Sunsets on June 30, 2030.