HI HB929

Adds a new surcharge to Hawaii's conveyance tax on net capital gains from the transfer or conveyance of agricultural land classified in agricultural districts under Chapter 205.

Imposes tiered surcharge rates based on holding period, ranging from shorter holding periods (less than 4 months) to longer periods (5 to 6 years), with specific percentage rates to be applied to net capital gains.

Defines "agricultural land" as lands in agricultural districts classified pursuant to Chapter 205 of Hawaii Revised Statutes.

Effective date is July 1, 2025.