HI HB25

Converts the refundable food/excise tax credit to an annual tax rebate system for qualifying Hawaii resident taxpayers.

Rebate amount is based on adjusted gross income and number of qualified exemptions, with higher income thresholds resulting in lower or no rebate amounts.

Rebate is only available to taxpayers who file a state income tax return and cannot be used to offset any tax liability under title 14.

Applies to taxable years beginning after December 31, 2022, with an effective date of July 1, 3000.

Targets low-income and ALICE (asset limited, income constrained, employed) households to provide immediate relief from the general excise tax burden.