Bill > HB233

This bill establishes a refundable state child tax credit in Hawaii. The credit is available to qualifying individual taxpayers with an adjusted gross income of $60,000 or less, providing $X per year for each child dependent aged 5 or less and $X for each child dependent aged 6 to 17. The credit is to be distributed equally over 12 months, and any excess credit over the taxpayer's net income tax liability will be refunded, subject to certain conditions. The bill also requires the state's Department of Taxation to administer the tax credit, including preparing necessary forms, verifying claims, and publicly reporting on the program's usage. The credit will be effective for taxable years beginning after December 31, 2023.

Budget and Finance, Business and Industry, Health and Social Services

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=233&year=2024