Bill > HCR150

This concurrent resolution requests the Department of Taxation to establish a Vacant Homes Surcharge Task Force to investigate the potential implementation of a general excise tax surcharge on homes that remain vacant for an extended period. The resolution highlights growing concerns about residential properties being purchased as second homes and left unoccupied, which negatively impacts local communities, housing availability, and the economy. The proposed task force would include key government officials such as the Director of Taxation (who would chair the group), the Director of Business, Economic Development, and Tourism, and the Executive Director of the Hawaii Housing Finance and Development Corporation, along with any additional members the chair might appoint. The task force is requested to research the economic impacts, potential enforcement mechanisms, and possible exemptions for such a surcharge, with the ultimate goal of generating a comprehensive report and potential legislative recommendations to be submitted no later than twenty days before the 2026 Regular Session. The underlying motivation is to incentivize property owners to either occupy their properties or make them available for long-term rentals, thereby addressing Hawaii's housing shortage and potentially generating revenue for affordable housing initiatives.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HCR&billnumber=150&year=2025