Hawaii HB1473 aims to preserve affordable housing by imposing taxes on property sales and requiring notifications to tenants.
Hawaii HB1473 introduces measures to maintain affordable housing stock by imposing taxes on the sale of eligible affordable housing properties. It requires landlords to notify tenants of their right to purchase the property. The bill establishes tax rates based on property value and mandates that owners provide notice to eligible parties before accepting offers from non-eligible parties. It also allows tenants, affordable housing nonprofits, and community land trusts to match offers to retain affordability.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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