HB577

Hawaii HB577 creates a tax credit for employers who pay for public transportation fares or passes for employees.

Hawaii HB577 amends the state's tax code to introduce a public transportation subsidization tax credit. Employers with a place of business in counties with a population of 700,000 or more can claim this credit. The credit amount equals the money spent on public transportation fares or passes for employees. The director of taxation is responsible for preparing necessary forms, verifying claims, and submitting reports to the legislature. The credit is not available for taxable years beginning after December 31, 2029.