Bill > SB2464

This bill proposes amendments to the Hawaii State Constitution to allow the Legislature to create a new tax to help fund public education. Currently, counties have the exclusive authority to tax real property, but this bill would repeal that exclusivity and grant the Legislature the power to establish a surcharge on real property taxes. This surcharge would specifically apply to "residential investment property," defined as real property used for residential purposes that is not the owner's primary residence and is valued at three million dollars or more, with an exception for affordable housing developments. The funds generated from this surcharge would be dedicated to improving public education for all residents, addressing concerns about underfunding in Hawaii's K-12 and higher education systems, which have led to issues like aging facilities, teacher shortages, and inadequate resources.

Government Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2464&year=2026