HI HB753

Establishes a one-time nonrefundable income tax credit of up to $1,500 for individual homeowners who install approved wind-resistant devices on their primary residences.

Requires pre-certification of retrofit costs through the Insurance Division of the Department of Commerce and Consumer Affairs before work begins, with eligibility standards set by the Insurance Commissioner.

Caps the number of certified credits at 2,000 in the first year of eligibility and 4,000 in the second year.

Allows unused tax credits to carry forward to subsequent taxable years if they exceed the taxpayer's income tax liability in the year claimed.

Applies to taxable years beginning after December 31, 2023, and expires December 31, 2025, with an effective date of June 30, 3000.