SB567

Establishes an income tax credit for medical travel expenses incurred by Hawaii residents.

This bill proposes an income tax credit for Hawaii residents who incur travel expenses for medical care, not covered by insurance. The credit aims to alleviate financial burdens and improve access to healthcare, particularly benefiting seniors, low-income residents, and those with chronic conditions. The credit is deductible from the taxpayer's individual net income tax and can be refunded if it exceeds the tax payments due. The bill defines "dependent" and "medical care" based on the Internal Revenue Code. The tax credit applies to taxable years beginning after December 31, 2024.