HI HB577

Creates a new tax credit for employers who purchase public transportation fares or passes for their employees, with the credit equal to a percentage (to be determined) of the amount spent

Employers must have a place of business in any Hawaii county to qualify for the credit

Unused tax credits may be carried forward to subsequent years until exhausted, but no carried-forward credits can be used after December 31, 2030

Tax credit is available only for taxable years beginning after December 31, 2025 through December 31, 2029

Director of Taxation must submit annual reports to the legislature prior to the 2027, 2028, 2029, and 2030 sessions detailing the number and value of credits granted