HI SB2959

Establishes a refundable income tax credit for Hawaii resident taxpayers who pay for travel expenses related to obtaining medical care for themselves or their dependents, provided the expenses are not covered by insurance or otherwise compensated.

Taxpayers with adjusted gross income below a specified threshold (amount not filled in) may claim a tax credit equal to a percentage (percentage not specified) of qualifying travel expenses that are primarily for and essential to medical care.

Tax credits are deductible from state individual net income tax liability, with any excess credits refunded to the taxpayer; no refunds under $1 shall be issued.

Claims for the tax credit must be filed within twelve months following the close of the applicable taxable year, or the right to claim the credit is waived.

Takes effect December 31, 2050, and applies to taxable years beginning after December 31, 2023; the director of taxation shall prepare forms, require proof of claims, and adopt rules necessary to administer the credit.