HI SB566

Requires the legislative reference bureau to conduct a study on increasing the homestead exemption under Hawaii Revised Statutes section 651-92, which has not been adjusted since 1978.

Study must examine and compare real property and homestead exemptions in states similar in size or with similar tax structures to Hawaii.

Study must assess fiscal implications to the state, counties, and private sectors from an increased homestead exemption, and analyze the frequency of homestead exemption claims in Hawaii.

Legislative reference bureau shall submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days prior to the 2022 regular session.

Effective date is December 1, 2050.