Bill > HB2787

This bill increases the maximum amount of deductible contributions for individual housing accounts, which are trust accounts used to save for a first-time home purchase in Hawaii. It requires the Department of Taxation to create and implement a public awareness campaign about these accounts. The bill also appropriates funds and declares that the general fund expenditure ceiling is exceeded. It applies to taxable years beginning after December 31, 2024 and takes effect on July 1, 2050.