HI SB1121

Requires the Real Property and Financial Services Section of the Hawaii State Bar Association to conduct a study on increasing the homestead exemption under the United States Bankruptcy Code.

Study must examine Hawaii's real property exemption for principal residences under Hawaii Revised Statutes section 651-92 and compare homestead exemptions in similar states.

Study shall analyze fiscal implications for the State, counties, and private sectors; compare how other states apply homestead exemptions; and assess the frequency of homestead exemption claims in Hawaii.

Hawaii State Bar Association may seek input from individuals or entities as needed and must submit findings, recommendations, and proposed legislation to the legislature no later than 20 days before the 2024 regular session convenes.

Effective date is July 1, 2112.