Hawaii HB1729 disallows the mortgage interest deduction for second homes to redirect resources toward housing production and infrastructure.

Hawaii HB1729 amends the state income tax law to disallow the mortgage interest deduction for second homes. This change aims to redirect resources toward housing production and infrastructure, addressing housing affordability and availability. The bill specifies that certain provisions of the federal Internal Revenue Code related to mortgage interest deductions for second homes will not apply. This measure is intended to better align the state's tax code with its housing policy objectives.

Hawaii HB1729 disallows the mortgage interest deduction for second homes to redirect resources toward housing production and infrastructure.

Hawaii HB1729 amends the state income tax law to disallow the mortgage interest deduction for second homes. This change aims to redirect resources toward housing production and infrastructure, addressing housing affordability and availability. The bill specifies that certain provisions of the federal Internal Revenue Code related to mortgage interest deductions for second homes will not apply. This measure is intended to better align the state's tax code with its housing policy objectives.