Bill Text: HI SB885 | 2019 | Regular Session | Amended
Bill Title: Relating To The Low-income Household Renters Credit.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2019-03-19 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Belatti, Quinlan, Yamane excused (3). [SB885 Detail]
Download: Hawaii-2019-SB885-Amended.html
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THE SENATE |
S.B. NO. |
885 |
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THIRTIETH LEGISLATURE, 2019 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE LOW-INCOME HOUSEHOLD RENTERS CREDIT.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-55.7, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:
"(c) Each taxpayer who is a:
(1) Single filer
with an adjusted gross income of less than $30,000;
(2) Married filer
filing separately with an adjusted gross income of less than $30,000;
(3) Head of
household filer with an adjusted gross income of less than $45,000; or
(4) Joint filer
with an adjusted gross income of less than $75,000
and who has paid more than $1,000 in rent
during the taxable year for which the credit is claimed may claim a tax credit of
[$50] $150 multiplied by the number of qualified exemptions to
which the taxpayer is entitled; provided each taxpayer sixty-five years of age
or over may claim double the tax credit; and provided that a resident individual
who has no income or no income taxable under this chapter may also claim the
tax credit as set forth in this section."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050,
and shall apply to taxable years beginning after December 31, 2019.
Report Title:
Income Tax Credit; Low-income Household Renters Credit
Description:
Adjusts the low-income household renters credit by increasing the maximum value of the credit amount to $150 per qualified exemption for households, and adjusting the income threshold amounts based on filing status. Effective 7/1/2050. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
