HI HB377

Establishes a Homeless Services Special Fund to be administered by the Department of Human Services, funded by 8% of collected conveyance taxes, legislative appropriations, and private contributions for homeless services and supportive housing.

Increases conveyance tax rates on higher-value properties, with rates ranging from 10 cents per $100 for properties under $600,000 to $6.00 per $100 for properties $26,000,000 or greater; establishes separate tax rates for multifamily residential properties.

Creates new conveyance tax exemptions for: organizations maintaining permanent affordability or 30+ year price-restricted affordability periods; nonprofit conservation organizations; and individual owner-occupants or renter-occupants with no other real property ownership interests.

Allocates collected conveyance taxes as follows: 8% to Land Conservation Fund, 38% to Rental Housing Revolving Fund, 8% to Affordable Homeownership Revolving Fund, 8% to Homeless Services Special Fund, and 8% to Dwelling Unit Revolving Fund for transit-oriented development infrastructure.

Allows counties to apply for matching funds from the Affordable Homeownership Revolving Fund if they have approved comprehensive affordable housing plans requiring permanent affordability restrictions on funded projects; effective July 1, 2025.