HI SB1121

Requires the Real Property and Financial Services Section of the Hawaii State Bar Association to conduct a study on appropriate increases to the homestead exemption under the U.S. Bankruptcy Code, specifically for principal residences under Hawaii Revised Statutes section 651-92.

Study must include a breakdown and comparison of real property and homestead exemptions in states similar in size or with similar tax structures to Hawaii.

Study must examine fiscal implications to the State, counties, and private sectors resulting from an increased homestead exemption and assess the number and frequency of homestead exemption claims in Hawaii.

Requires the Hawaii State Bar Association to submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days before the 2024 regular session.

Effective July 1, 2112.