HI HB232

Establishes a two-year pilot program reducing state income tax liability for residents of the 96792 postal zip code (Waianae area) on Oahu's west coast

Provides tiered tax reductions based on adjusted gross income: 50% reduction for lowest income bracket, 30% for middle bracket, 10% for higher bracket, and 0% for highest earners (specific dollar thresholds left blank in bill)

Requires participants to have maintained principal residence in the 96792 zip code since at least January 1, 2023, and filed state income tax returns for 2023 and 2024

Department of Taxation must submit a report on financial impact and recommendations to the legislature by 2028

Applies to taxable years beginning after December 31, 2024, and repeals on December 31, 2026