RELATING TO TAXATION.
Sponsored By: Kim Coco Iwamoto (Democratic)
In Committee
Summary
Establishes a nonrefundable individual income tax credit for a certain percentage of expenses paid to retrofit a residence with wind resistive devices or to purchase, install, or construct, a hurricane shelter on the taxpayer's property. Reduces the general excise tax rate on the gross proceeds or income from the sale of a concrete certified hurricane-resistant residential project or certain hurricane-resistant components of a high-rise condominium. Applies to taxable years beginning after 12/31/2026. Sunsets 12/31/2030.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Kim Coco Iwamoto
Democratic • House
Cosponsors
David Alcos III
Republican • House
Diamond Garcia
Republican • House
Christopher L. Muraoka
Republican • House
Amy A. Perruso
Democratic • House
Elijah Pierick
Republican • House
Julie Reyes Oda
Republican • House
Garner M. Shimizu
Republican • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to PBS/ECD, CPC, FIN, referral sheet 6
2/2/2026HouseIntroduced and Pass First Reading.
1/28/2026House
Bill Text
Original
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