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HI HB492

Bill

Official Source

Status

Introduced

1/23/2023

Primary Sponsor

Rachele Fernandez Lamosao

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Increases the Hawaii earned income tax credit from 20% to 25% of the federal earned income tax credit allowed under Internal Revenue Code Section 32
  • The credit remains refundable for qualifying individual taxpayers who properly claim the federal earned income tax credit on their federal income tax return
  • Applies to taxable years beginning after December 31, 2022
  • Amends Section 235-55.75 of the Hawaii Revised Statutes

Legislative Description

Relating To Taxation.

Taxation

Last Action

Referred to ECD, FIN, referral sheet 1

1/25/2023

Committee Referrals

Economic Development1/25/2023

Full Bill Text

No bill text available