Hawaii SB138 introduces a nonrefundable income tax credit for safe room installations in residences.

Hawaii SB138 amends the state's tax code to allow a nonrefundable income tax credit for qualified expenses related to the design, materials, installation, and construction of safe rooms in residences. The credit is limited to a percentage of the expenses, up to a maximum dollar amount, and can be carried over to subsequent years if unused. The safe rooms must meet specific criteria, such as being located outside flood zones and being designed to resist hurricane-force winds.

Hawaii SB138 introduces a nonrefundable income tax credit for safe room installations in residences.

Hawaii SB138 amends the state's tax code to allow a nonrefundable income tax credit for qualified expenses related to the design, materials, installation, and construction of safe rooms in residences. The credit is limited to a percentage of the expenses, up to a maximum dollar amount, and can be carried over to subsequent years if unused. The safe rooms must meet specific criteria, such as being located outside flood zones and being designed to resist hurricane-force winds.