SB970 proposes a tax credit for employers in Hawaii counties with a population of 700,000 or more who spend on public transportation fares for their.

SB970 introduces a tax credit for employers in Hawaii counties with a population of 700,000 or more who spend on public transportation fares for their employees. The credit amount equals the amount spent on fares or passes for employees to use public transportation. If the credit exceeds the taxpayer's income tax liability, the excess can be carried over to subsequent years. The tax credit is not available for taxable years beginning after December 31, 2029. The director of taxation must prepare necessary forms, verify claims, and submit reports to the legislature.

SB970 proposes a tax credit for employers in Hawaii counties with a population of 700,000 or more who spend on public transportation fares for their.

SB970 introduces a tax credit for employers in Hawaii counties with a population of 700,000 or more who spend on public transportation fares for their employees. The credit amount equals the amount spent on fares or passes for employees to use public transportation. If the credit exceeds the taxpayer's income tax liability, the excess can be carried over to subsequent years. The tax credit is not available for taxable years beginning after December 31, 2029. The director of taxation must prepare necessary forms, verify claims, and submit reports to the legislature.