STAND. COM. REP. NO. 860-26

Honolulu, Hawaii

, 2026

RE: H.B. No. 1756

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.B. No. 1756, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE INDIVIDUAL HOUSING ACCOUNT PROGRAM,"

begs leave to report as follows:

The purpose of this measure is to increase the maximum annual deduction for contributions into, and maximum account levels for, individual housing accounts.

Your Committee received testimony in support of this measure from the Office of Hawaiian Affairs; Hawaii Housing Finance and Development Corporation; Mortgage Bankers Association of Hawaii; Hawaiʻi Association of REALTORS; Housing Hawaiʻi's Future; and seven individuals. Your Committee received comments on this measure from the Department of Taxation and Tax Foundation of Hawaii.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1756, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

CHRIS TODD, Chair