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HI HB543

Bill

Official Source

Status

Introduced

1/23/2023

Primary Sponsor

Micah Aiu

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Establishes a nonrefundable income tax credit for taxpayers who purchase and install a whole house water filter system in Hawaii
  • Credit equals a percentage of qualified expenses (percentage amount not specified in bill text) for purchase and installation of filtration systems that treat all water entering a home
  • Total tax credits capped at $5,000,000 annually across all taxpayers; ineligible claimants may carry credits forward to subsequent taxable years
  • Credit claimed against net income tax liability with excess credits usable in future years; all claims must be filed within 12 months following close of taxable year
  • Effective July 1, 3000 and applies to taxable years beginning after December 31, 2022

Legislative Description

Relating To Taxation.

Income Tax Credits

Last Action

Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; Representative(s) Kapela voting no (1) and Representative(s) Kitagawa excused (1).

2/14/2023

Committee Referrals

Finance2/14/2023
Housing1/27/2023

Full Bill Text

No bill text available