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THIRTIETH LEGISLATURE, 2019 <br />STATE OF HAWAII <br />B. NO. <br />ABILL FOR AN ACT <br />RELATING TO TAXATION. <br />a <br />BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: <br />1 SECTION 1. Chapter 235, Hawai'i Revised Statutes, is amended by <br />2 adding a new section to part I to be appropriately designated and to read as follows: <br />3 "§235- Hirina an elderly individual; income tag credit. (a) <br />4 There shall be allowed to each taxpaver subiect to the tax imposed by this <br />5 chapter, a credit for the hiring of an elderly individual that shall be <br />6 deductible from the taxpayer's net income tax liability, if any, imposed by this <br />7 chapter for the taxable year in which the credit is properly claimed. <br />8 (b) The amount of the credit shall be equal to fifty per cent of the <br />9 qualified wages for the first six months after the elderly individual is initially <br />10 hired. A tax credit that exceeds the taxpayer's income tax liability may be <br />11 used as a credit against the taxpayer's income tax liability in subsequent <br />12 years until exhausted; provided that in no taxable year shall the total <br />13 amount of the tax credit claimed under this section exceed $ per <br />14 taxpayer. <br />is (c) The following wages paid to an elderly individual are ineligible <br />16 to be claimed by the employer for this credit: <br />17 ) ' Wages paid to an elderly individual who: <br />