summary
Introduced
01/19/2024
01/19/2024
In Committee
01/24/2024
01/24/2024
Crossed Over
Passed
Dead
05/03/2024
05/03/2024
Introduced Session
2024 Regular Session
Bill Summary
Reinstates income tax credit for cesspool upgrade, conversion, or connection for eligible taxpayers and eligible expenses. Applies retroactively to 12/31/2020.
AI Summary
This bill reinstates the income tax credit for eligible taxpayers who upgrade, convert, or connect their qualified cesspools to a septic system, aerobic treatment unit system, or sewer system. The credit is capped at $10,000 per qualified cesspool, with a maximum of $5 million in total credits allowed per year. The Department of Health is responsible for certifying qualified cesspools and eligible expenses, while the Department of Taxation will administer the tax credit. The bill applies retroactively to taxable years beginning after December 31, 2020.
Committee Categories
Agriculture and Natural Resources
Sponsors (7)
Stanley Chang (D)*,
Lynn DeCoite (D)*,
Troy Hashimoto (D)*,
Michelle Kidani (D)*,
Angus McKelvey (D)*,
Tim Richards (D)*,
Joy San Buenaventura (D)*,
Last Action
Referred to AEN/HHS, WAM. (on 01/24/2024)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2540&year=2024 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB2540_.HTM |
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