HI SB800

Establishes a new income tax credit for employers who provide or sponsor child care services for their employees in Hawaii.

Allows employers providing on-site child care to claim 75% of qualified operational costs as a tax credit, with unused credits carried forward for five years.

Allows employers sponsoring off-site child care to claim 75% of costs, with unused credits carried forward for five years.

Allows employers purchasing child care property and equipment to claim 100% of costs as a tax credit, prorated equally over ten years beginning when the property is placed in service.

Caps annual tax credit claims at 50% of the taxpayer's net income tax liability and requires taxpayers to submit documentation to the Department of Taxation identifying employees using child care services and approved child care providers; effective January 1, 2050 for taxable years beginning after December 31, 2022.