Bill > HB2028

This bill establishes a nonrefundable tax credit for employers in Hawaii who provide a paid Labor Day holiday to their construction workers, recognizing the demanding nature of their work and their contribution to the state's development. The credit is designed to offset the cost for private employers, ensuring these workers receive a paid day off and recognition for their efforts. A "construction worker" is broadly defined to include various trades and on-site roles in the building and infrastructure sector, excluding those already receiving paid holidays from public employers. The credit is applied against income tax liability, and any excess can be carried forward to future years, with a total statewide cap of $2,000,000 per year. The bill also specifies that employers cannot claim other deductions or credits for the same costs and outlines administrative procedures for claiming the credit, with an effective date of July 1, 3000, applying to taxable years beginning after December 31, 2025.