HI SB1145

Increases conveyance tax rates for non-primary residential properties (condominiums and single-family residences where purchaser is ineligible for homeowner's exemption) across all value brackets, ranging from 10-50 cents per $100 in increases.

Removes the $38,000,000 annual statutory cap on conveyance tax revenue dedicated to the rental housing revolving fund.

Increases the percentage of annual conveyance tax collections allocated to the rental housing revolving fund from 50% to 60%.

Establishes that 10% or $6.8 million (whichever is less) continues to go to the land conservation fund, with the remainder above these allocations going to the state general fund.

Takes effect July 1, 2017, with the goal of increasing funding for affordable rental housing development to help meet the state's goal of 22,500 new rental units by 2026.