HI HB326

Increases the applicable percentage for the household and dependent care services tax credit from a maximum of 25% to 50%, with the percentage reduced by one point for each $3,000 of adjusted gross income above the threshold amount

Sets the initial threshold amount at $150,000 for taxable years beginning after December 31, 2024, with annual adjustments based on the Consumer Price Index cost-of-living factor

Adds a new definition of "cost-of-living adjustment factor" tied to the Consumer Price Index for All Urban Consumers to annually adjust income thresholds

Creates disallowance periods preventing credit claims for 10 years after fraud determinations or 2 years after other disallowed claims

Applies to taxable years beginning after December 31, 2024, and automatically repeals on June 30, 2030, reverting to the previous version of the law