SB596

SB596 proposes a tax credit for qualified taxpayers purchasing electric garbage trucks in Hawaii.

SB596 amends Hawaii Revised Statutes to introduce a tax credit for qualified taxpayers who purchase electric garbage trucks. The credit is deductible from the taxpayer's net income tax liability for the year it is claimed. Partnerships, S corporations, estates, and trusts can also claim the credit for qualified expenses. The credit amount is capped, and any excess can be carried over to subsequent years.