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HB 1261 Hawaii House · 2026 Regular Session

RELATING TO TAXATION.

Summary
Establishes a tax credit for landlords who charge below-market rent and assesses an additional privilege tax on landowners who charge above-market rent, under certain conditions. Requires the Hawaii Housing Finance and Development Corporation to determine median market rent for rental units by geographic area for the purposes of the below-market rent tax credit and above-market rent tax.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for below-market rent and additional tax on above-market rent, promoting housing affordability through targeted taxation and fiscal management.90% confidence ✓ HousingSupports HousingTax credit for below-market rent directly increases affordable housing access; above-market rent tax penalizes excessive pricing, strengthening tenant protections and aligning with housing affordability goals.92% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 22, 2025 Last action Dec 8, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
4
Key actions
0
Committee
1
Jan 27, 2025
Committee
Referred to ECD, CPC, FIN, referral sheet 4
lower
Jan 23, 2025
Introduced
Introduced and Pass First Reading.
lower
Jan 22, 2025
Introduced
Pending introduction.
lower
4 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Amy Perruso
Amy Perruso
DDemocratic
HI
46
P
Photo of Ikaika Hussey
Ikaika Hussey
DDemocratic
HI
29
P
Photo of Rachele Lamosao
Rachele Lamosao
DDemocratic
HI
19
P
Photo of Tina Grandinetti
Tina Grandinetti
DDemocratic
HI
20