Bill > HB1214

This bill establishes a new landlord resident tenant tax credit in Hawaii that allows landlords to claim a $1,000 tax credit for each dwelling unit they lease to a qualified tenant who is verified as a Hawaii resident. The credit can be applied against the taxpayer's income tax liability, and if the credit exceeds the current year's tax liability, the excess can be carried forward to future tax years. For partnerships, S corporations, estates, or trusts, the credit is calculated at the entity level, with distribution and sharing determined by rule. To claim the credit, taxpayers must file appropriate forms with the director of taxation, who is authorized to request additional information and adopt rules to implement the program. The tax credit will apply to taxable years beginning after December 31, 2024, and the bill uses definitions from existing Hawaii housing laws for terms like "dwelling unit," "landlord," and "tenant." The goal appears to be to provide a financial incentive for landlords to lease to Hawaii residents and potentially support local housing needs.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1214&year=2025