Provides that a tax credit for low-income housing that exceeds the taxpayer's income tax liability for a taxable year may be used as a credit against the taxpayer's income tax liability in subsequent taxable years, but not after the tenth subsequent taxable year.
Amends the Motion Picture, Digital Media, and Film Production Income Tax Credit (tax credit) by, beginning for costs incurred after 12/31/2025, providing an additional credit to qualified productions with a workforce of at least eighty percent local hires; requiring each taxpayer claiming the tax credit to submit an independent third-party certification verifying certain information to the Department of Business, Economic Development, and Tourism; increasing the per-production cap amount to $20,000,000 and excluding qualified productions that incur at least $60,000,000 of qualified production costs from the per-production cap amount; changing the aggregate cap amount to $60,000,000; providing that, beginning for costs incurred after 12/31/2023, if the total amount of tax credits claimed in a year is less than the aggregate cap amount, the cap for the subsequent year shall be increased by the unclaimed amount; defining "streaming platform" and amending the definition of "qualified production" to include certain streaming productions; and extending the sunset date of the tax credit to 1/1/2038. Exempts from the general excise tax certain amounts received by a motion picture project employer from a client company that represent reimbursements for costs paid or incurred by the client company for reasonable employment-related costs of motion picture project workers or loan-out companies. (CD1)
SB 1260 creates a tax credit for farmers who adopt agroecological and climate-smart farming practices, directly benefiting agricultural producers who implement these methods. The credit applies to taxable years starting after December 31, 2025, providing financial incentive for practices that improve soil health and reduce emissions. This policy change shifts tax treatment to reward specific sustainable farming techniques without altering existing agricultural regulations.
HB 2174 removes the expiration date for Act 163 from Hawaii's 2023 legislative session, making that tax law permanent. It directly affects Hawaii's tax code by preventing Act 163 from automatically ending on its original sunset date. The bill's key mechanism is simply repealing the specific expiration provision in Act 163. This change ensures the tax provisions established by Act 163 remain in effect indefinitely without requiring further legislative action.
SB 2746 creates an income tax credit for individuals covering medical travel costs not paid by insurance, such as trips to specialists or treatments outside their local area. This directly affects people with significant out-of-pocket medical travel expenses who lack insurance coverage for those costs. The credit is set to expire on January 1, 2031, as it includes a sunset provision. The bill was introduced on January 23, 2026, and has advanced to committee referral.
Establishes a tax credit for sustainable aviation fuel distribution in Hawaii to reduce greenhouse gas emissions. Provides $1 per gallon, increasing by 2 cents per additional 1 per cent emissions reduction, up to $2 per gallon. Caps total credits at $20,000,000 annually, with carryover provisions. Requires reporting to ensure transparency and compliance. Applies to taxable years after December 31, 2025, and sunsets on December 31, 2035.
Expands the provisions of the renewable fuels production tax credit. Applies to taxable years beginning after December 31, 2025. Effective 7/1/3000. (HD2)
Clarifies that references to the base amount in section 41, Internal Revenue Code of 1986, as amended, shall not apply to the tax credit for research activities, and that the tax credit for qualified research expenses may be claimed without regard to expenses in previous years. Increases the annual cap on the total amount of credits that may be certified by the Department of Business, Economic Development, and Tourism.
Provides a temporary income tax credit for the cost of upgrading or converting a cesspool to a septic system or an aerobic treatment unit system or connecting to a sewer system. Permits the Department of Health, as a pilot program, to certify no more than two residential large capacity cesspools. Applies to taxable years after 12/31/2027. Sunsets 12/31/2032.
Amends the research activity tax credit so that references to the base amount in section 41 of the Internal Revenue Code shall not apply and credit for all qualified research expenses may be taken without regard to the amount of expenses for previous years. Increases the annual aggregate cap for the research activity tax credit.
