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HI HB1918
Bill
Status
Engrossed
3/5/2026
Primary Sponsor
Luke Evslin
Click for details
AI Summary
- Imposes Hawaii's conveyance tax on transfers of a "controlling interest" (50% or more) in entities that own real property located in the state, treating such transfers as equivalent to direct real property sales
- Defines controlling interest transfers as taxable when occurring within any 12-month period, including multiple acquisitions by persons acting in concert, with tax based on fair market value from county property assessments
- Exempts transfers that constitute mere changes in identity or form of ownership with no change in beneficial ownership, including transfers to wholly-owned subsidiaries with the same common ownership
- Applies the lowest conveyance tax rate (10 cents per $100) regardless of property value to certain transactions including mergers, consolidations, transfers to certified low-income housing developers, and transfers involving wholly-owned corporations or LLCs
- Makes both the transferee and the entity jointly and severally liable for the tax if the transferor fails to pay, with an effective date of July 1, 3000
Legislative Description
Relating To Taxation.
Conveyance Tax
Last Action
The committee(s) on WLA deferred the measure until 03-18-26 1:05PM; Conference Room 224 & Videoconference.
3/16/2026
Committee Referrals
Water, Land, and Agriculture3/10/2026
Finance2/12/2026
Water & Land1/28/2026
Full Bill Text
No bill text available