HB1456

Hawaii HB1456 proposes a tax credit for qualified environmental sustainability projects.

Hawaii HB1456 amends the Hawaii Revised Statutes to introduce a tax credit for qualified environmental sustainability projects. This credit applies to individual and corporate taxpayers who install and place into service eligible projects in the state. To qualify, taxpayers must comply with state regulations and provide evidence of quantifiable environmental benefits. The tax credit is limited to specific costs and may be carried over to subsequent years if unused. The director of taxation will prepare necessary forms and may require additional documentation from taxpayers.