Hawaii HB179 amends the state's income tax code to introduce a refundable earned income tax credit for qualifying individuals.

Hawaii HB179 amends the state's income tax code to introduce a refundable earned income tax credit for qualifying individuals. The credit is calculated as forty-five percent of the federal earned income tax credit. The bill also modifies the tax credit for low-income household renters, allowing eligible taxpayers to claim a credit based on their adjusted gross income and the number of qualified exemptions. The credit is refundable if it exceeds the amount of income tax payments due. The provisions apply to taxable years beginning after December 31, 2024.

Hawaii HB179 amends the state's income tax code to introduce a refundable earned income tax credit for qualifying individuals.

Hawaii HB179 amends the state's income tax code to introduce a refundable earned income tax credit for qualifying individuals. The credit is calculated as forty-five percent of the federal earned income tax credit. The bill also modifies the tax credit for low-income household renters, allowing eligible taxpayers to claim a credit based on their adjusted gross income and the number of qualified exemptions. The credit is refundable if it exceeds the amount of income tax payments due. The provisions apply to taxable years beginning after December 31, 2024.