HI HB1535

Creates a $500 income tax credit per automated external defibrillator (AED) installed at places of public accommodation in Hawaii with 25 or more employees.

Excess tax credits may be carried forward and applied against income tax liability for up to five years following the taxable year claimed.

Taxpayers cannot claim both this credit and other deductions or credits for the same AED installation costs.

Claims for the tax credit must be filed within 12 months following the close of the taxable year or the right to claim is waived.

Effective date is July 1, 3000, applying to taxable years beginning after that date.