HB 1665 Summary

• Creates a primary residential property owner tax credit for resident individual taxpayers who maintain their primary residence in Hawaii and do not allow transient accommodations on the property.

• Establishes tax credit eligibility requirements including: claiming credit on primary residence, paying real property taxes to a county, not being claimed as a dependent, and being a Hawaii resident for at least nine months.

• Modifies transient accommodations tax revenue allocation to counties, replacing a fixed $103,000,000 allocation with reimbursements for county expenditures on specified public services and tax credits allowed.

• Allows counties to seek reimbursement for costs related to transient accommodations enforcement, public mass transportation, cesspool conversion programs, visitor industry planning, ocean safety programs, and primary residential property owner tax credits.

• Takes effect on July 1, 2050.