HI HB1208

Establishes a new Homeless Services Special Fund to receive 8% of conveyance tax collections for homeless services and supportive housing programs administered by the Department of Human Services

Increases conveyance tax rates on higher-value properties, with rates reaching up to $6.00 per $100 for properties valued at $26 million or more, and up to $7.00 per $100 for non-owner-occupied condos and single-family homes at that value

Creates a separate, lower conveyance tax rate schedule for multifamily residential properties (5+ units in urban areas), capping at $2.00 per $100 for properties valued at $100 million or more

Exempts from conveyance tax: properties conveyed to organizations with 30+ year affordability requirements or permanent deed restrictions; nonprofit conservation organizations; and owner-occupants or renter-occupants who own no other real property

Reallocates conveyance tax revenues to fund 8% each to the Land Conservation Fund, Affordable Homeownership Revolving Fund, Homeless Services Special Fund, and Dwelling Unit Revolving Fund (for transit-oriented development infrastructure), with 38% to the Rental Housing Revolving Fund