HI HB1327

Establishes a state income tax credit for qualified educators to offset personal expenditures on classroom supplies and educational materials.

Applies to individuals employed by the Department of Education, Hawaii state public library system, or head start programs who work at least 900 hours during a school year as teachers, instructors, school librarians, counselors, principals, registrars, aides, or special education teachers.

Allows tax credits for expenses on books, supplies (excluding athletic supplies), computer equipment with software and services, and supplementary classroom materials, with the credit amount equal to actual qualified expenses up to an annual cap (amount not specified in bill text).

Permits unused tax credits to carry forward to subsequent taxable years until exhausted, with all claims required to be filed within 12 months following the close of the taxable year or the right to claim is waived.

Takes effect June 30, 3000 and applies to taxable years beginning after December 31, 2022.