Report Title:

Taxes, income tax credit, special education

 

Description:

Adds a new section to chapter 235 to provide an income tax credit to businesses that provide special education services to Felix and/or Special Needs children.

 

THE SENATE

S.B. NO.

1304

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO TAXATION.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§235- Special education services tax credit. (a) Each resident business taxpayer who provides special education services to Felix class children and/or special needs children and who files an income tax return for a taxable year, may claim a tax credit under this section against the Hawaii state individual or corporate net income tax liability for the taxable year for which the income tax return is being filed.

(b) The amount of the tax credit shall be $ .

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2001 and shall apply to all taxable years after December 31, 2000.

 

INTRODUCED BY:

_____________________________