THE SENATE	S.B. NO.	2300
TWENTY-EIGHTH LEGISLATURE, 2016		S.D. 1
STATE OF HAWAII

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 with an adjusted gross income of less than [$30,000] $60,000 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  Statutory material to be repealed is bracketed and stricken.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, upon its approval, shall apply to taxable years beginning after December 31, 2015.

Report Title:

Income Tax Credit; Low-income Household Renters Credit

Description:

Adjusts the low-income household renter's credit by increasing the maximum value of the credit amount to $150 per qualified exemption for households, and adjusts the income threshold to allow households with an adjusted gross income of less than $60,000 to claim the credit.  (SD1)

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