Hawaii HB1214 establishes a landlord resident tenant tax credit for qualified taxpayers.

Hawaii HB1214 introduces a landlord resident tenant tax credit of $1,000 per dwelling unit leased by a qualified taxpayer to a qualified tenant. This credit is deductible from the taxpayer's net income tax liability. The credit applies to taxable years beginning after December 31, 2024. The Director of Taxation is responsible for preparing necessary forms and rules to implement the credit. Failure to file claims within the specified period results in a waiver of the right to claim the credit.

Hawaii HB1214 establishes a landlord resident tenant tax credit for qualified taxpayers.

Hawaii HB1214 introduces a landlord resident tenant tax credit of $1,000 per dwelling unit leased by a qualified taxpayer to a qualified tenant. This credit is deductible from the taxpayer's net income tax liability. The credit applies to taxable years beginning after December 31, 2024. The Director of Taxation is responsible for preparing necessary forms and rules to implement the credit. Failure to file claims within the specified period results in a waiver of the right to claim the credit.