HOUSE OF REPRESENTATIVES	H.B. NO.	2732
TWENTY-SIXTH LEGISLATURE, 2012
STATE OF HAWAII

A BILL FOR AN ACT

relating to tax credits.

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 to promote the purchase of safety helmets for any person sixty-two years of age or older. (a)  Any taxpayer who files an individual income tax return for a taxable year may claim an income tax credit under this section against the Hawaii state individual net income tax.

(b)  The tax credit shall be $        ; provided that the taxpayer purchases one or more new safety helmets in the tax year for which the credit is properly claimed; and provided that such safety helmet is:

(1) Approved for use for any person sixty-two years of age or older by the department of health, the Hawaii Medical Association, or the American Medical Association; and

(2) Shown to be in substantial conformity with specifications for such safety helmets set forth by the United States Consumer Products Safety Commission, the American Society of Testing and Materials, the American National Standards Institute, the Snell Memorial Foundation, or any certified national safety agency that were in effect at the time of such purchase.

(c)  If the tax credit claimed by the taxpayer under this section exceeds the amount of the income tax payments due from the taxpayer, the excess of credit over payments due shall be refunded to the taxpayer; provided that the tax credit properly claimed by a taxpayer who has no income tax liability shall be paid to the taxpayer; and provided that no refunds or payments on account of the tax credit allowed by this section shall be made for amounts less than $1.

(d)  The director of taxation shall prepare such forms as may be necessary to claim a credit under this section, may require proof of the claim for the tax credit, and may adopt rules pursuant to chapter 91.

(e)  All of the provisions relating to assessments and refunds under this chapter and under section 231-23(c)(1) shall apply to the tax credit under this section.

(f)  Claims for the tax credit under this section, including any amended claims, shall be filed on or before the end of the twelfth month following the taxable year for which the credit may be claimed."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Tax Credits; Safety Helmets; Senior Citizens

Description:

Provides a tax credit to any person who purchases a specific safety helmet approved for use by a person sixty-two years of age or older.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.