Measure Title: RELATING TO TAXATION.
Report Title: Excise Tax; Failure to Sell Excess Single-Family Residences; Housing Downpayment Trust Fund; Reports
Description: Establishes an excise tax on certain taxpayers who own excess single-family residences for failure to sell those residences. Establishes and allocates excise tax revenues to the Housing Downpayment Trust Fund. Requires annual reports to the Legislature. Applies to taxable years beginning after 12/31/2026. Effective 7/1/2050. (SD2)
Companion:
Package: None
Current Referral: HSG, FIN
Introducer(s): LEE, C.
Act:

Sort by DateChamberStatus Text
3/6/2025HReferred to HSG, FIN, referral sheet 19
3/6/2025HPass First Reading
3/4/2025HReceived from Senate (Sen. Com. No. 242) in amended form (SD 2).
3/4/2025SReport Adopted; Passed Third Reading, as amended (SD 2). Ayes, 25; Aye(s) with reservations: Senator(s) Fevella, Ihara, Inouye, San Buenaventura. Noes, 0 (none). Excused, 0 (none). Transmitted to House.
2/28/2025S48 Hrs. Notice 03-04-25.
2/28/2025SReported from WAM/JDC (Stand. Com. Rep. No. 1045) with recommendation of passage on Third Reading, as amended (SD 2).
2/26/2025SThe committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 5 Aye(s): Senator(s) Rhoads, Gabbard, Chang, Awa; Aye(s) with reservations: Senator(s) San Buenaventura ; 0 No(es): none; and 0 Excused: none.
2/26/2025SThe committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Aquino, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Lee, C., Wakai; Aye(s) with reservations: Senator(s) Moriwaki, DeCoite, Kim, Fevella ; 0 No(es): none; and 0 Excused: none.
2/21/2025SThe committee(s) on WAM/JDC will hold a public decision making on 02-26-25 10:05AM; Conference Room 211 & Videoconference.
2/12/2025SReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM/JDC.
2/12/2025SReported from HOU (Stand. Com. Rep. No. 338) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM/JDC.
2/4/2025SThe committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 4 Aye(s): Senator(s) Chang, Hashimoto, Kanuha, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Aquino.
1/31/2025SThe committee(s) on HOU has scheduled a public hearing on 02-04-25 1:00PM; Conference Room 225 & Videoconference.
1/23/2025SReferred to HOU, WAM/JDC.
1/21/2025SPassed First Reading.
1/17/2025SIntroduced.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

Some of the above items require Adobe Acrobat Reader. Please visit Adobe's download page for detailed instructions.


SB1033 SD2

All Versions of this Measure

SB1033_SD2 Link to SB1033_SD2 .PDF file
SB1033_SD1 Link to SB1033_SD1 .PDF file
SB1033 Link to SB1033 .PDF file

Committee Reports

SB1033_SD1_SSCR338_ Link to committee report SB1033_SD1_SSCR338_ .PDF file
SB1033_SD2_SSCR1045_ Link to committee report SB1033_SD2_SSCR1045_ .PDF file

Testimony

SB1033_TESTIMONY_HOU_02-04-25_
SB1033_SD1_TESTIMONY_WAM-JDC_02-26-25_

Hearing Notices

HOU
2/04/25 1:00P
CR 225 & Videoconference
WAM/JDC
2/26/25 10:05A
CR 211 & Videoconference