Hawaii HB929 imposes a surcharge on net capital gains from the transfer or conveyance of agricultural land, based on the duration the land was held.

Hawaii HB929 amends Chapter 247 of the Hawaii Revised Statutes by adding a new section that imposes a surcharge on the net capital gain from the transfer or conveyance of agricultural land. The surcharge rate varies based on how long the agricultural land was held, ranging from less than four months to less than six years. The term "agricultural land" is defined as lands in an agricultural district classified under Chapter 205. This Act is set to take effect on July 1, 2025.

Hawaii HB929 imposes a surcharge on net capital gains from the transfer or conveyance of agricultural land, based on the duration the land was held.

Hawaii HB929 amends Chapter 247 of the Hawaii Revised Statutes by adding a new section that imposes a surcharge on the net capital gain from the transfer or conveyance of agricultural land. The surcharge rate varies based on how long the agricultural land was held, ranging from less than four months to less than six years. The term "agricultural land" is defined as lands in an agricultural district classified under Chapter 205. This Act is set to take effect on July 1, 2025.