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HI HB1613
Bill
Status
1/17/2024
Primary Sponsor
Jeanne Kapela
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AI Summary
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Creates a nonrefundable income tax credit for homeowners who install and place into service a water catchment system on residential property they own in Hawaii
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Tax credit equals the lesser of the qualified installation costs or $250 per water catchment system, with only one credit allowed per system
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Total annual tax credits across all qualified taxpayers are capped at an amount to be specified (blank in current draft)
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Unused credits may be carried forward to subsequent tax years until exhausted, but no refund applies for amounts less than $1
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Credit applies only to taxable years beginning after December 31, 2024 and expires for taxable years beginning after December 31, 2029; water catchment systems must have a minimum capacity of 1,000 gallons
Legislative Description
Relating To Water Catchment.
Income Tax Credit
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Matayoshi, Takayama, Todd excused (3).
2/14/2024