HI HB680

Imposes Hawaii conveyance tax on transfers or acquisitions of controlling interests (50% or more) in entities that own real property in the state, effective for conveyances after June 30, 2014.

Defines "controlling interest" as 50% or more of voting stock in corporations or 50% or more of capital, profits, or beneficial interest in partnerships, associations, trusts, or other entities.

Applies tiered tax rates ranging from 10 cents to $1.25 per $100 of consideration based on property value, with higher rates for non-owner-occupied residential properties.

Establishes exemptions for entity mergers and consolidations, transfers from dissolving limited partnerships to corporate general partners owning 90%+ interest, and conveyances that effectuate mere changes in ownership form without change in beneficial ownership.

Requires grantors and grantees to file certificates of conveyance disclosing consideration and facts the tax director may prescribe, with confidentiality protections for certificate information.