Report Title:

Tax Credits

Description:

Prohibits recipients of federal grants or moneys from qualifying for state tax credits.

HOUSE OF REPRESENTATIVES	H.B. NO.	1739
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAXATION.

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-    Tax credits; ineligibility. Notwithstanding any other law to the contrary, no taxpayer shall be eligible to claim any tax credit under this chapter on grants or moneys received from the federal government."

     SECTION 2.  This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun, before its effective date.

     SECTION 3.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval and shall apply to taxable years beginning after December 31, 2008.

INTRODUCED BY:

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