Hawaii SB1214 proposes a surcharge on vacant residential properties to fund rental assistance programs and address the economic impact of unoccupied.

Hawaii SB1214 introduces a surcharge on vacant residential properties to fund rental assistance programs similar to the federal Section 8 tenant-based housing assistance program. The bill aims to recover lost funds from vacant homes, which benefit from public infrastructure and services without contributing to the local economy. The surcharge is calculated based on the average annual rental value and potential general excise tax revenue. Exemptions apply for certain periods of vacancy, such as when the property is under renovation or the owner is temporarily away.

Hawaii SB1214 proposes a surcharge on vacant residential properties to fund rental assistance programs and address the economic impact of unoccupied.

Hawaii SB1214 introduces a surcharge on vacant residential properties to fund rental assistance programs similar to the federal Section 8 tenant-based housing assistance program. The bill aims to recover lost funds from vacant homes, which benefit from public infrastructure and services without contributing to the local economy. The surcharge is calculated based on the average annual rental value and potential general excise tax revenue. Exemptions apply for certain periods of vacancy, such as when the property is under renovation or the owner is temporarily away.