HI HB682

Establishes a ridesharing income tax credit for qualified commuters who carpool or rideshare to work, deductible from net income tax liability for taxable years beginning after December 31, 2023.

Credits equal $19 per day of ridesharing, with a maximum annual credit of $5,000 per qualified commuter.

Excess credits exceeding a taxpayer's net income tax liability may be carried forward to the following taxable year and up to two additional succeeding years until exhausted.

Defines "commuter" as a Hawaii taxpayer traveling more than two miles to work, and "carpooling/ridesharing" as two or more people traveling together in one vehicle for more than two miles to paid employment or school.

Requires the Department of Taxation to prepare necessary forms, request reasonable documentation from claimants, and submit annual reports to the legislature on credit usage by qualified commuters.