HI HB2147

Proposes amendments to Articles VIII and X of the Hawaii State Constitution to allow the legislature to establish a state surcharge on county property taxes for residential investment properties valued at $3,000,000 or more that are not the owner's primary residence.

Repeals counties' exclusive authority over real property taxation functions, allowing the state to impose the surcharge alongside county taxes.

Revenue from the surcharge would be dedicated to funding public education, including K-12 schools, the University of Hawaii, and educational facilities.

Exempts affordable housing developments subject to regulatory agreements with the state or counties from the surcharge.

Requires voter approval through a constitutional amendment ballot question before implementation.