HOUSE OF REPRESENTATIVES	H.B. NO.	932
TWENTY-NINTH LEGISLATURE, 2017		H.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAXATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 235-55.85, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  Each individual taxpayer may claim a refundable food/excise tax credit multiplied by the number of qualified exemptions to which the taxpayer is entitled in accordance with the table below; provided that a husband and wife filing separate tax returns for a taxable year for which a joint return could have been filed by them shall claim only the tax credit to which they would have been entitled had a joint return been filed.

In the case of any taxable year beginning after December 31, 2017:

     Adjusted gross income        Credit per exemption

     for taxpayers filing

     a single return                      

       Under [$5,000] $5,800           [$l10] $115

       [$5,000] $5,800 under

         [$10,000] $11,500             [$100] $105

       [$10,000] $11,500 under

         [$15,000] $17,500             [$ 85] $ 90

       [$15,000] $17,500 under

         [$20,000] $23,500             [$ 70] $ 75

       [$20,000] $23,500 under

         [$30,000] $35,000             [$ 55] $ 60

       [$30,000] $35,000 and over            $  0.

     Adjusted gross income        Credit per exemption

     for heads of household,

     married individuals filing

     separate returns, and

     married couples filing

     joint returns                        

       Under [$5,000] $5,800           [$l10] $115

       [$5,000] $5,800 under

         [$10,000] $11,500             [$100] $105

       [$10,000] $11,500 under

         [$15,000] $17,500             [$ 85] $ 90

       [$15,000] $17,500 under

         [$20,000] $23,500             [$ 70] $ 75

       [$20,000] $23,500 under

         [$30,000] $35,000             [$ 55] $ 60

       [$30,000] $35,000 under

         [$40,000] $46,500                 $ 45

       [$40,000] $46,500 under

         [$50,000] $58,000                 $ 35

       [$50,000] $58,000 and over          $  0.

In the case of any taxable year beginning after December 31, 2019:

Adjusted gross income

for taxpayers filing

a single return Credit per exemption

Under $6,000 $120

$6,000 under $12,000 $108

$12,000 under $18,000 $ 93

$18,000 under $24,000 $ 78

$24,000 under $36,500 $ 63

$36,500 and over $  0.

Adjusted gross income Credit per exemption

for heads of household,

married individuals filing

separate returns, and

married couples filing

joint returns

Under $6,000 $120

$6,000 under $12,000 $108

$12,000 under $18,000 $ 93

$18,000 under $24,000 $ 78

$24,000 under $36,500 $ 63

$36,500 under $48,500 $ 48

$48,500 under $60,000 $ 38

$60,000 and over $  0.

In the case of any taxable year beginning after December 31, 2021:

Adjusted gross income

for taxpayers filing

a single return Credit per exemption

Under $6,300 $125

$6,300 under $12,500 $110

$12,500 under $19,000 $ 95

$19,000 under $25,000 $ 80

$25,000 under $38,000 $ 65

$38,000 and over $  0.

Adjusted gross income Credit per exemption

for heads of household,

married individuals filing

separate returns, and

married couples filing

joint returns

Under $6,300 $125

$6,300 under $12,500 $110

$12,500 under $19,000 $ 95

$19,000 under $25,000 $ 80

$25,000 under $38,000 $ 65

$38,000 under $50,000 $ 50

$50,000 under $63,000 $ 40

$63,000 and over $  0."

     SECTION 2.  Act 223, Session Laws of Hawaii 2015, section 4, is amended to read as follows:

"SECTION 4.  This Act, upon its approval, shall apply to taxable years beginning after December 31, 2015[; provided that this Act shall be repealed on December 31, 2017, and section 235-55.85, Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day prior to the effective date of this Act]."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect on July 1, 2030.

Report Title:

Taxation; Refundable Food/Excise Tax Credit;

Description:

Gradually increases the credit amounts and amends the income brackets of the refundable food/excise tax credit.  Repeals the sunset date of Act 223, SLH 2015, which amended the food/excise tax credit.  (HB932 HD1)

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