HB1261

Hawaii HB1261 proposes a tax credit for landlords offering below-market rent and an additional tax on those charging above-market rent.

Hawaii HB1261 aims to address housing affordability by offering a tax credit to landlords who charge below-market rent and imposing an additional tax on those who charge above-market rent. The bill defines a "qualified taxpayer" as a landlord leasing a dwelling unit at or below eighty percent of the median market rent. These landlords can claim a tax credit equal to ten percent of their annual gross proceeds from leasing.