Hawaii 2022 Regular Session

Hawaii House Bill HB2506 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	HOUSE OF REPRESENTATIVES H.B. NO. 2506 THIRTY-FIRST LEGISLATURE, 2022 STATE OF HAWAII A BILL FOR AN ACT Proposing amendments to articles viii of the constitution of THE STATE of hawaii to authorize the legislature to freeze any increase in state RESIDENTIAL PROPERTY tax. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
2	2
3	3	HOUSE OF REPRESENTATIVES H.B. NO. 2506
4	4	THIRTY-FIRST LEGISLATURE, 2022
5	5	STATE OF HAWAII
6	6
7	7	HOUSE OF REPRESENTATIVES
8	8
9	9	H.B. NO.
10	10
11	11	2506
12	12
13	13	THIRTY-FIRST LEGISLATURE, 2022
14	14
15	15
16	16
17	17	STATE OF HAWAII
18	18
19	19
20	20
21	21
22	22
23	23
24	24
25	25
26	26
27	27
28	28
29	29
30	30
31	31	A BILL FOR AN ACT
32	32
33	33
34	34
35	35	Proposing amendments to articles viii of the constitution of THE STATE of hawaii to authorize the legislature to freeze any increase in state RESIDENTIAL PROPERTY tax.
36	36
37	37
38	38
39	39
40	40
41	41	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
42	42
43	43
44	44
45	45	SECTION 1. The legislature finds that the residents of Hawaii have been finding it increasingly difficult to purchase and own a home. The legislature further finds that the median price of a single-family home on Oahu is surpassing $1,060,000. The legislature also finds that the average age of owner-occupied housing units is fifty-eight years of age and is expected to increase in the most recent census count. The legislature further finds if homeowners over the age of fifty-five were allowed to transfer the assessed value of their present home to their children without a property tax re-assessment, the ability for our citizens to keep their homes in the family would greatly increase. The legislature additionally finds that Hawaii boasts some of the lowest property tax rates in the country, which contributes to the desire to buy and own homes locally. Therefore, the intent of this Act is to hold intact our favorable property tax rates by authorizing the legislature to freeze any increases to the residential property tax. SECTION 2. The purpose of this Act is to amend article VIII, section 3, of the Constitution of the State of Hawaii to relieve the financial burden of our homeowners in the State of Hawaii who are over the age of fifty-five by authorizing the legislature to establish a property tax freeze on residential property. SECTION 3. Article VIII, section 3, of the Constitution of the State of Hawaii is amended to read as follows: "TAXATION AND FINANCE SECTION 3. The taxing power shall be reserved to the State, except so much thereof as may be delegated by the legislature to the political subdivisions, and except that all functions, powers and duties relating to the taxation of real property shall be exercised exclusively by the counties, with the exception of the county of Kalawao[.]; provided that the legislature shall not be prohibited from establishing a property tax freeze on residential property pursuant to Article VIII, section 3. The legislature shall have the power to apportion state revenues among the several political subdivisions." SECTION 4. The question to be printed on the ballot shall be as follows: "Shall the legislature be authorized to provide financial relief to residential homeowners, fifty-five and older by establishing a residential property tax freeze?" SECTION 5. Constitutional material to be repealed is bracketed and stricken. New constitutional material is underscored. SECTION 6. This amendment shall take effect upon compliance with article XVII, section 3, of the Constitution of the State of Hawaii. INTRODUCED BY: _____________________________
46	46
47	47	SECTION 1. The legislature finds that the residents of Hawaii have been finding it increasingly difficult to purchase and own a home. The legislature further finds that the median price of a single-family home on Oahu is surpassing $1,060,000. The legislature also finds that the average age of owner-occupied housing units is fifty-eight years of age and is expected to increase in the most recent census count.
48	48
49	49	The legislature further finds if homeowners over the age of fifty-five were allowed to transfer the assessed value of their present home to their children without a property tax re-assessment, the ability for our citizens to keep their homes in the family would greatly increase.
50	50
51	51	The legislature additionally finds that Hawaii boasts some of the lowest property tax rates in the country, which contributes to the desire to buy and own homes locally.
52	52
53	53	Therefore, the intent of this Act is to hold intact our favorable property tax rates by authorizing the legislature to freeze any increases to the residential property tax.
54	54
55	55	SECTION 2. The purpose of this Act is to amend article VIII, section 3, of the Constitution of the State of Hawaii to relieve the financial burden of our homeowners in the State of Hawaii who are over the age of fifty-five by authorizing the legislature to establish a property tax freeze on residential property.
56	56
57	57	SECTION 3. Article VIII, section 3, of the Constitution of the State of Hawaii is amended to read as follows:
58	58
59	59	"TAXATION AND FINANCE
60	60
61	61	SECTION 3. The taxing power shall be reserved to the State, except so much thereof as may be delegated by the legislature to the political subdivisions, and except that all functions, powers and duties relating to the taxation of real property shall be exercised exclusively by the counties, with the exception of the county of Kalawao[.]; provided that the legislature shall not be prohibited from establishing a property tax freeze on residential property pursuant to Article VIII, section 3. The legislature shall have the power to apportion state revenues among the several political subdivisions."
62	62
63	63	SECTION 4. The question to be printed on the ballot shall be as follows:
64	64
65	65	"Shall the legislature be authorized to provide financial relief to residential homeowners, fifty-five and older by establishing a residential property tax freeze?"
66	66
67	67	SECTION 5. Constitutional material to be repealed is bracketed and stricken. New constitutional material is underscored.
68	68
69	69	SECTION 6. This amendment shall take effect upon compliance with article XVII, section 3, of the Constitution of the State of Hawaii.
70	70
71	71
72	72
73	73	INTRODUCED BY: _____________________________
74	74
75	75	INTRODUCED BY:
76	76
77	77	_____________________________
78	78
79	79
80	80
81	81
82	82
83	83	Report Title: Residential Property Tax; Tax Freeze; Constitutional Amendment Description: Proposing amendments to articles viii of the constitution of the state of hawaii to authorize the legislature to freeze any increase in state residential property tax. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
84	84
85	85
86	86
87	87
88	88
89	89	Report Title:
90	90
91	91	Residential Property Tax; Tax Freeze; Constitutional Amendment
92	92
93	93
94	94
95	95	Description:
96	96
97	97	Proposing amendments to articles viii of the constitution of the state of hawaii to authorize the legislature to freeze any increase in state residential property tax.
98	98
99	99
100	100
101	101
102	102
103	103
104	104
105	105
106	106
107	107	The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.