Bill > HR144

This 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 vacant residential properties. The task force would be composed of key government officials, including the Director of Taxation (who would serve as Chairperson), the Director of Business, Economic Development, and Tourism, the Executive Director of the Hawaii Housing Finance and Development Corporation, and potentially other individuals as needed. The resolution is motivated by the increasing number of residential properties being purchased as second homes and left unoccupied, which contributes to housing shortages, rising property values, and reduced economic activity. The task force is requested to research the economic impacts, potential enforcement measures, and possible exemptions for such a surcharge, with the goal of incentivizing property owners to either occupy their properties or make them available for long-term rental. The group is required to submit a comprehensive report with findings and recommendations, including proposed legislation, to the Legislature no later than twenty days before the Regular Session of 2026. The resolution highlights that the proposed surcharge could generate revenue for rental assistance programs and help address Hawaii's affordable housing challenges.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HR&billnumber=144&year=2025