Hawaii SB376 introduces a tax credit for qualified home fire safety improvements.
Hawaii SB376 establishes an income tax credit for qualified home fire safety improvements. This credit is available to taxpayers who incur expenses for improvements that increase their residence's fire safety rating. The credit is calculated as a percentage of the qualified costs and is subject to certain limits and conditions. The insurance commissioner must certify the improvements, and the director of taxation oversees the credit claims and may audit them. The credit is applicable to taxable years beginning after December 31, 2025.
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