Report Title:
Health Benefits Tax Credit; Collective Bargaining Unit 12
Description:
Provides bargaining unit (12) with a tax credit for health care benefits due to increased costs.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1543 |
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TWENTY-THIRD LEGISLATURE, 2005 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to health benefits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235- Health benefits tax credit for collective bargaining unit 12. (a) There shall be allowed to each taxpayer who files an individual net income tax return, and who is a member of collective bargaining unit 12, an income tax credit which shall be deductible from the taxpayer's net income tax liability, if any, imposed by this chapter, for the taxable year in which the credit is properly claimed.
(b) The amount of the credit shall be as follows:
(1) For members of collective bargaining unit 12 that receive single health coverage, the tax credit shall be $80 per month or $960 per year; and
(2) For members of collective bargaining unit 12 that receive family health coverage, the tax credit shall be $200 per month or $2,400 per year.
(c) The credit allowed under this section shall be claimed against the net income tax liability for the taxable year.
(d) If the tax credit under this section exceeds the taxpayer's income tax liability, the excess of credit shall be made payable in U.S. dollars as a refund to the member."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2005.
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INTRODUCED BY: |
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