Bill Commons

HI SB 1131

in committee

RELATING TO TAXATION.

Hawaii · 2026 Regular Session · upper

Description

Imposes an excise tax on certain hedge funds failing to dispose of excess single-family residences, escalating over a ten-year period. Imposes a tax on any newly acquired single-family residences by a hedge fund. Makes certain exemptions. Requires the Department of Taxation to establish a certification process to ensure buyers of homes sold by hedge funds are not major investors in residential real estate. Establishes the Housing Down Payment Trust Fund to be administered by the Hawaii Housing Finance and Development Corporation to provide grants to establish new or supplement existing programs that provide down payment assistance to families purchasing homes within the State. Allocates collected tax revenue and penalties paid by hedge funds to the Housing Down Payment Trust Fund. Applies to taxable years beginning after 12/31/2025.

Introduced
2025-01-17
Status date
—
Latest action
2025-12-08 — Carried over to 2026 Regular Session.
Bill type
bill
Last updated
—

Subjects

Sponsors

  • MCKELVEYprimary
  • CHANGprimary
  • San Buenaventuracosponsor

Committees

Not provided by source.

Action timeline

  1. 2025-12-08

    Carried over to 2026 Regular Session.

    carried-over

  2. 2025-02-04

    The committee on HOU deferred the measure.

    deferral

  3. 2025-01-31

    The committee(s) on HOU has scheduled a public hearing on 02-04-25 1:00PM; Conference Room 225 & Videoconference.

  4. 2025-01-23

    Referred to HOU, WAM/JDC.

    referral-committee

  5. 2025-01-21

    Passed First Reading.

    reading-1

  6. 2025-01-17

    Introduced.

    introduction

Versions

Documents

Votes

Not provided by source.

Related bills

No related bills recorded for this bill.

Official source

https://capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1131&year=2026

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T05:20:09.051962Z

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