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HI HB1729

Bill

Official Source

Status

Introduced

1/21/2026

Primary Sponsor

Luke Evslin

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Eliminates the Hawaii state income tax deduction for mortgage interest on second homes, limiting the deduction to only a taxpayer's principal residence
  • Amends Section 235-2.4 of Hawaii Revised Statutes to make federal Internal Revenue Code provisions regarding second home mortgage interest deductions inoperative for state tax purposes
  • Addresses housing affordability concerns by removing tax preferences that reduce the after-tax cost of owning non-primary residences used only intermittently
  • Applies to taxable years beginning after December 31, 2025, with an effective date of July 1, 3000 (placeholder date)

Legislative Description

Relating To Taxation.

Income Tax

Last Action

Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Gedeon, Souza voting aye with reservations; Representative(s) Cochran, Garcia, Muraoka, Pierick voting no (4) and none excused (0).

2/19/2026

Committee Referrals

Finance2/19/2026
Housing1/26/2026

Full Bill Text

No bill text available