HI HB1410

Establishes a Supportive Housing Special Fund to finance affordable permanent housing and supportive services for individuals with special needs, including those with addictions, individuals transitioning from incarceration, youth aging out of foster care, domestic violence survivors, veterans, and chronically homeless individuals

Restructures the conveyance tax from a flat rate to a marginal rate system, applying progressively higher rates only to property values exceeding specified thresholds (ranging from 10 cents per $100 for properties under $600,000 to $3 per $100 for amounts over $10,000,000)

Calculates conveyance tax for multifamily residential properties (5+ units in urban districts) on a per-unit basis rather than total property value to avoid disproportionate impact on affordable housing developments

Increases conveyance tax rates on non-owner-occupied properties valued over $2,000,000 and owner-occupied properties over $6,000,000, with an estimated $35,000,000 in additional annual revenue

Allocates conveyance tax revenue to multiple funds: 8% (up to $10,000,000) to the land conservation fund, 38% (up to $50,000,000) to the rental housing revolving fund, 8% (up to $10,000,000) to the new supportive housing special fund, and 10% to the dwelling unit revolving fund for transit-oriented development infrastructure