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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1298 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
H.D. 1 |
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STATE OF HAWAII |
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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- Income tax credit for hiring developmentally, intellectually, or physically disabled individuals. (a) There shall be allowed to each taxpayer subject to the tax imposed by this chapter, a credit for the hiring of a developmentally, intellectually, or physically disabled individual at a business owned by the taxpayer during the taxable year. The tax credit 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 equal to fifty per cent of the qualified wages for the first six months after the developmentally, intellectually, or physically disabled individual is hired. A tax credit that exceeds the taxpayer's income tax liability may be used as a credit against the taxpayer's income tax liability in subsequent years until exhausted; provided that in no taxable year shall the total amount of the tax credit claimed under this section exceed $ .
(c) For the purposes of this section:
"Disabled" means having a physical or intellectual impairment that substantially limits one or more major life activities, having record of such impairment, or being regarded as having such impairment; provided that the condition has been confirmed by a non-profit organization working with developmentally, intellectually, or physically disabled individuals, such as, but not limited to, the Easter Seals or the Friendship House.
"Qualified wages" means wages attributable to work rendered by a developmentally, intellectually, or physically disabled individual for the six-month period after the individual is hired.
(d) The director of taxation:
(1) Shall prepare any forms necessary to claim a credit under this section;
(2) May require a taxpayer to furnish reasonable information in order to ascertain the validity of a claim for credit; and
(3) May adopt rules pursuant to chapter 91 to effectuate the purposes of this section.
(e) 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 is claimed. Failure to comply with the foregoing provision shall constitute a waiver of the right to claim the tax credit."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2030, and shall apply to taxable years beginning after December 31, 2012.
Report Title:
Tax Credit; Developmental, Intellectual, or Physical Disability; Employment
Description:
Provides a nonrefundable income tax credit at fifty per cent of qualified wages for the first six months for a taxpayer who hires a developmentally, intellectually, or physically disabled individual. Effective July 1, 2030. (HB1298 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.