SB325 provides an income tax credit to Hawaii resident taxpayers and deposits funds into state funds.

SB325 implements article VII, section 6, of the Hawaii State Constitution by offering an income tax credit to resident individual taxpayers for the taxable year 2025. This credit is deductible from the taxpayer's individual income tax liability. The bill also mandates deposits into the emergency and budget reserve fund and the other post-employment benefits trust fund. The credit is not available to certain individuals, such as those convicted of a felony and physically confined for the full taxable year.

SB325 provides an income tax credit to Hawaii resident taxpayers and deposits funds into state funds.

SB325 implements article VII, section 6, of the Hawaii State Constitution by offering an income tax credit to resident individual taxpayers for the taxable year 2025. This credit is deductible from the taxpayer's individual income tax liability. The bill also mandates deposits into the emergency and budget reserve fund and the other post-employment benefits trust fund. The credit is not available to certain individuals, such as those convicted of a felony and physically confined for the full taxable year.