URGING THE UNITED STATES CONGRESS TO PROPOSE AN AMENDMENT TO THE UNITED STATES CONSTITUTION TO ALLOW STATES TO RESTRICT THE PURCHASE OF RESIDENTIAL REAL PROPERTY TO STATE RESIDENTS.

This bill is a concurrent resolution urging the U.S. Congress to propose a constitutional amendment that would allow states to limit the purchase of residential real estate to their own residents. It directly addresses Hawaii's housing affordability crisis by seeking to change the current federal constitutional provision that prevents states from restricting property ownership based on residency. The resolution asks Congress to act on this proposal, which would enable Hawaii and other states to pass laws reserving home purchases for local residents to protect housing stock for state citizens. This measure does not change current law immediately but instead seeks a federal constitutional change that would grant states the legal authority to implement such residency restrictions on property purchases.