Hawaii HB690 introduces a refundable income tax credit for taxpayers who install or repair water catchment systems or purchase water delivery.

Hawaii HB690 amends the state's tax code to introduce a refundable income tax credit for taxpayers who either install, place into service, or repair a water catchment system or purchase water delivery services. The credit is equal to the lesser of the costs incurred or $500. The bill aims to provide an alternative water source tax credit to support water conservation, mitigate flooding, and conserve energy. The credit is deductible from the taxpayer's net income tax liability and can be refunded if it exceeds the amount of income tax payments due.

Hawaii HB690 introduces a refundable income tax credit for taxpayers who install or repair water catchment systems or purchase water delivery.

Hawaii HB690 amends the state's tax code to introduce a refundable income tax credit for taxpayers who either install, place into service, or repair a water catchment system or purchase water delivery services. The credit is equal to the lesser of the costs incurred or $500. The bill aims to provide an alternative water source tax credit to support water conservation, mitigate flooding, and conserve energy. The credit is deductible from the taxpayer's net income tax liability and can be refunded if it exceeds the amount of income tax payments due.