HI HB179

Expands the low-income household renters tax credit from a flat $50 to a tiered system of $200-$300 per exemption based on income and filing status, with income thresholds ranging from $20,000-$50,000 for single filers up to $40,000-$100,000 for joint filers

Increases the state earned income tax credit from 40% to 45% of the federal earned income tax credit

Raises the refundable food/excise tax credit amounts by $100 across all income brackets (e.g., from $220 to $320 for the lowest tier) and expands income eligibility thresholds from $40,000 to $50,000 for single filers and from $60,000 to $70,000 for other filing statuses

Makes permanent the amendments to the state earned income tax credit and food/excise tax credit that were set to expire on December 31, 2027 under Act 163, Session Laws of Hawaii 2023

Applies to taxable years beginning after December 31, 2024