Requesting The Department Of Taxation To Establish A Vacant Homes Surcharge Task Force To Research And Report On The Impacts And Implementations Of A General Excise Tax Surcharge On Vacant Homes.
Impact
The proposed task force's investigation into vacant homes could lead to significant policy changes aimed at enhancing Hawaii's housing market. If enacted, the surcharge might incentivize property owners to either occupy their homes or place them into the long-term rental market. This could alleviate some pressure on the housing supply, making rental options more accessible for local families and contributing positively to the local economy. The generation of revenue from the surcharge is also intended for funding rental assistance programs and affordable housing initiatives.
Summary
House Resolution 144 (HR144) proposes the establishment of a task force by the Department of Taxation in Hawaii to investigate the implications of implementing a general excise tax surcharge on vacant residential properties. The resolution underscores the challenges posed by the increasing number of second homes left unoccupied, which are reported to negatively impact local communities and contribute to housing shortages and rising rental costs. By focusing on the issues stemming from vacant homes, the bill aims to address the imbalance in the housing market and its effects on residents' affordability.
Contention
Critics of the vacant homes surcharge may argue that imposing a tax on vacant properties could disincentivize property investment and ownership among residents and investors alike. Concerns about enforcement and compliance could arise, particularly regarding determining which properties qualify as vacant and how to effectively monitor occupancy rates. Furthermore, the discussions surrounding the task force may also reflect broader debates about housing policy in Hawaii, particularly addressing the balance between stimulating investment and protecting affordable housing for locals.
Same As
Requesting The Department Of Taxation To Establish A Vacant Homes Surcharge Task Force To Research And Report On The Impacts And Implementations Of A General Excise Tax Surcharge On Vacant Homes.
Requesting The Department Of Commerce And Consumer Affairs, In Consultation With The Department Of Taxation, To Conduct A Study On The Social And Economic Impacts Of Permitting The Sale Of Aerial Fireworks And Imposing A Tax On The Sale Of Aerial Fireworks.
Requesting The Department Of Commerce And Consumer Affairs, In Consultation With The Department Of Taxation, To Conduct A Study On The Social And Economic Impacts Of Permitting The Sale Of Aerial Fireworks And Imposing A Tax On The Sale Of Aerial Fireworks.
Requesting The Department Of Law Enforcement To Establish A Task Force On Ethical Policing To Evaluate The Efficacy And Impact Of Weed And Seed Programs In The State.
Requesting The Department Of Law Enforcement To Establish A Task Force On Ethical Policing To Evaluate The Efficacy And Impact Of Weed And Seed Programs In The State.