HI HB1473

Requires the Legislative Reference Bureau to conduct a study to determine an appropriate increase to the homestead exemption under the United States Bankruptcy Code.

Study must examine Hawaii's real property exemption for principal residences in bankruptcy proceedings under Hawaii Revised Statutes section 651-92.

Study shall include a breakdown and comparison of real property and homestead exemptions in states similar to Hawaii, comparison of how other states apply exemptions, fiscal implications to the State and counties, and assessment of homestead exemption claims in Hawaii.

Legislative Reference Bureau may seek input from any individual or entity deemed necessary to complete the study.

Legislative Reference Bureau must submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days prior to the 2024 regular session convening.