Hawaii SB376 proposes a tax credit for qualified home fire safety improvements, effective from 2026.

Hawaii SB376 introduces a tax credit for qualified home fire safety improvements, applicable to taxable years beginning after December 31, 2025. The credit is available to taxpayers who incur qualified costs for improvements that increase their residence's fire safety rating. The credit amount is determined by the percentage of qualified costs, subject to certain limits. Taxpayers must submit a sworn statement and a letter from the Department of Taxation to claim the credit. The insurance commissioner will certify the improvements, and the director of taxation may audit claims.

Hawaii SB376 proposes a tax credit for qualified home fire safety improvements, effective from 2026.

Hawaii SB376 introduces a tax credit for qualified home fire safety improvements, applicable to taxable years beginning after December 31, 2025. The credit is available to taxpayers who incur qualified costs for improvements that increase their residence's fire safety rating. The credit amount is determined by the percentage of qualified costs, subject to certain limits. Taxpayers must submit a sworn statement and a letter from the Department of Taxation to claim the credit. The insurance commissioner will certify the improvements, and the director of taxation may audit claims.