HI HB1211

Establishes a homeless services fund within the state treasury to receive 10% of conveyance tax collections and legislative appropriations, administered by the department for homeless services and supportive housing programs.

Increases conveyance tax rates on high-value properties, with new brackets ranging from $1.50 per $100 for properties valued $6,000,000-$10,000,000 up to $10 per $100 for properties valued $24,000,000 or greater.

Adds exemptions from conveyance tax for: affordable housing developments certified by the Hawaii housing finance and development corporation; first-time homebuyers with 5+ years Hawaii residency purchasing property under $2,000,000 as primary residence; and nonprofit conservation organizations acquiring undeveloped property.

Removes dollar caps on conveyance tax allocations to the land conservation fund (previously $5,100,000) and rental housing revolving fund (previously $38,000,000), allocating 10% and 50% of collections respectively.

Takes effect June 30, 3000.