Skip to main content
Independent and nonpartisan. SaveYourState is a civic information resource. It is not a government website and is not affiliated with any government agency, party, or campaign.

Hawaii · 2026 Regular Session · Bill

SB 1131: RELATING TO TAXATION.

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

SB 1131 is a bill introduced in the Hawaii Senate on January 17, 2025. According to its official title, it concerns: RELATING TO TAXATION. Primary sponsor: Angus McKelvey (Democratic), Stanley Chang (Democratic). It lists 1 additional sponsor. Most recent recorded action (December 8, 2025): Carried over to 2026 Regular Session.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Imposes an excise tax on certain hedge funds failing to dispose of excess single-family residences, escalating over a ten-year period. Imposes a tax on any newly acquired single-family residences by a hedge fund. Makes certain exemptions. Requires the Department of Taxation to establish a certification process to ensure buyers of homes sold by hedge funds are not major investors in residential real estate. Establishes the Housing Down Payment Trust Fund to be administered by the Hawaii Housing Finance and Development Corporation to provide grants to establish new or supplement existing programs that provide down payment assistance to families purchasing homes within the State. Allocates collected tax revenue and penalties paid by hedge funds to the Housing Down Payment Trust Fund. Applies to taxable years beginning after 12/31/2025.

Sponsors

Sponsors by party (alphabetical): Democratic 3

NameRolePartyChamberDistrict
Angus McKelveyPrimary sponsorDemocraticSenate6
Stanley ChangPrimary sponsorDemocraticSenate9
Joy San BuenaventuraCo-sponsorDemocraticSenate2

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Carried over to 2026 Regular Session.
  2. The committee on HOU deferred the measure.
  3. The committee(s) on HOU has scheduled a public hearing on 02-04-25 1:00PM; Conference Room 225 & Videoconference.
  4. Referred to HOU, WAM/JDC.
  5. Passed First Reading.
  6. Introduced.

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source