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HI SB2093

Bill

Official Source

Status

Introduced

1/21/2016

Primary Sponsor

Suzanne Chun Oakland

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Amends Section 247-7 of Hawaii Revised Statutes regarding disposition of conveyance tax collections.

  • Removes the $38,000,000 annual cap on conveyance tax allocations to the rental housing revolving fund, allowing 50% of all collected taxes to be directed to the fund without limitation.

  • Maintains the existing 10% allocation (capped at $6,800,000) to the land conservation fund established under Section 173A-5.

  • Becomes effective July 1, 2016.

Legislative Description

Rental Housing Revolving Fund; Conveyance Tax

Last Action

Report adopted; Passed Second Reading and referred to WAM.

2/12/2016

Committee Referrals

Ways and Means2/12/2016
Housing1/21/2016

Full Bill Text

No bill text available