HB 179 Summary

• Amends the low-income household renters tax credit by expanding income thresholds and increasing credit amounts per exemption, with single filers receiving up to $300 (previously $50), head of household filers up to $300, and married joint filers up to $300.

• Increases the state earned income tax credit from 40% to 45% of the federal earned income tax credit allowed under Internal Revenue Code Section 32.

• Expands the refundable food/excise tax credit income thresholds and increases credit amounts, with single filers receiving up to $320 (previously $220) and married joint filers receiving up to $320.

• Makes permanent the amendments made by Act 163, Session Laws of Hawaii 2023, to the earned income tax credit and refundable food/excise tax credit by repealing their December 31, 2027 sunset date.

• Applies to taxable years beginning after December 31, 2024.