HI HB1922

Establishes a temporary task force within the Department of Business, Economic Development, and Tourism to address Hawaii's housing market distortion caused by non-resident real estate investment.

Task force shall operate until January 2, 2023, and submit a report to the legislature no later than twenty days before the 2023 regular session with recommendations on policies, strategies, and draft legislation.

Report must address deed restrictions tying housing to specific area median income levels in perpetuity, county-level transaction fees and property tax mechanisms with state income tax credits for residents, and identification of pilot project areas in each county.

Task force comprises nine members including one House representative, one Senate member, county representatives, executives from Hawaii housing finance and development corporation, community development authority, and public housing authority, plus representatives from non-profit and for-profit housing developers and the transit-oriented development council.

Appropriates unspecified general revenue funds for fiscal year 2022-2023 for task force administration and operations, effective July 1, 2022.