Proposing constitutional amendments to authorize a surcharge on high-value residential investment properties to fund public education.

This bill proposes amendments to the Constitution of the State of Hawaii to repeal the counties' exclusive power to tax real property and to authorize the legislature to establish a surcharge on real property taxes levied by the counties on certain residential investment properties. The surcharge aims to help fund public education, addressing the elimination of federal education funding and the need for increased state funding. The surcharge would apply to residential investment properties valued at three million dollars or more, excluding those serving as the owner's primary residence.

Proposing constitutional amendments to authorize a surcharge on high-value residential investment properties to fund public education.

This bill proposes amendments to the Constitution of the State of Hawaii to repeal the counties' exclusive power to tax real property and to authorize the legislature to establish a surcharge on real property taxes levied by the counties on certain residential investment properties. The surcharge aims to help fund public education, addressing the elimination of federal education funding and the need for increased state funding. The surcharge would apply to residential investment properties valued at three million dollars or more, excluding those serving as the owner's primary residence.