Establishes a one-time nonrefundable income tax credit for wind resistance retrofits in Hawaii.

This bill creates a one-time nonrefundable income tax credit for homeowners in Hawaii who are not eligible to be claimed as dependents for federal or state income taxes. The credit, up to $40,000 or the actual costs, is for wind resistance retrofits to help homes withstand hurricanes. The credit can be applied to the taxpayer's net income tax liability and, if unused, can be carried over to subsequent years. The insurance division caps the number of credits certified in the first and second years of eligibility.

Establishes a one-time nonrefundable income tax credit for wind resistance retrofits in Hawaii.

This bill creates a one-time nonrefundable income tax credit for homeowners in Hawaii who are not eligible to be claimed as dependents for federal or state income taxes. The credit, up to $40,000 or the actual costs, is for wind resistance retrofits to help homes withstand hurricanes. The credit can be applied to the taxpayer's net income tax liability and, if unused, can be carried over to subsequent years. The insurance division caps the number of credits certified in the first and second years of eligibility.