summary
Introduced
01/28/2026
01/28/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Establishes a nonrefundable individual income tax credit for a certain percentage of expenses paid to retrofit a residence with wind resistive devices or to purchase, install, or construct, a hurricane shelter on the taxpayer's property. Reduces the general excise tax rate on the gross proceeds or income from the sale of a concrete certified hurricane-resistant residential project or certain hurricane-resistant components of a high-rise condominium. Applies to taxable years beginning after 12/31/2026. Sunsets 12/31/2030.
AI Summary
This bill establishes tax incentives to encourage homeowners and developers to build or retrofit homes to better withstand hurricanes, recognizing the increasing threat from stronger and more frequent storms due to climate change. For individuals, it creates a one-time, nonrefundable income tax credit for 50% of the costs associated with retrofitting existing homes with wind-resistant features like windows and roofing, or for building a certified hurricane shelter on their property. This credit can be carried forward to future years if it exceeds the immediate tax liability. Additionally, the bill reduces the general excise tax rate by half on the sale of new residential projects built with concrete and certified as hurricane-resistant, with a similar reduced rate applying to the incremental cost of hurricane-resistant components in high-rise buildings. These provisions are set to take effect for taxable years beginning after December 31, 2026, and will be repealed on December 31, 2030.
Committee Categories
Military Affairs and Security
Sponsors (8)
David Alcos (R)*,
Diamond Garcia (R)*,
Kim Iwamoto (D)*,
Christopher Muraoka (R)*,
Amy Perruso (D)*,
Elijah Pierick (R)*,
Garner Shimizu (R)*,
Julie Reyes Oda (R),
Last Action
Referred to PBS/ECD, CPC, FIN, referral sheet 6 (on 02/02/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2526&year=2026 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2026/bills/HB2526_.HTM |
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