Eliminates the home mortgage interest deduction for second homes under Hawaii income tax law.

Hawaii SB2451 eliminates the home mortgage interest deduction for second homes under Hawaii income tax law. It amends Hawaii Revised Statutes to exclude certain Internal Revenue Code provisions related to mortgage interest deductions. The Department of Budget and Finance, in consultation with the Department of Taxation, must submit a report on the administration of this Act to the legislature before the regular sessions of 2027, 2028, 2029, 2030, and 2031.

Eliminates the home mortgage interest deduction for second homes under Hawaii income tax law.

Hawaii SB2451 eliminates the home mortgage interest deduction for second homes under Hawaii income tax law. It amends Hawaii Revised Statutes to exclude certain Internal Revenue Code provisions related to mortgage interest deductions. The Department of Budget and Finance, in consultation with the Department of Taxation, must submit a report on the administration of this Act to the legislature before the regular sessions of 2027, 2028, 2029, 2030, and 2031.