HI HB377

Establishes a new Homeless Services Special Fund to receive 10% of conveyance tax revenues for homeless services and supportive housing programs, administered by the Department of Human Services

Significantly increases conveyance tax rates for high-value properties, with rates reaching up to $6.00 per $100 for properties valued at $26 million or more (up from $1.00 per $100 for properties $10 million+), and up to $7.00 per $100 for non-owner-occupied condos and single-family homes at that threshold

Creates a separate conveyance tax schedule for multifamily residential properties (5+ units in urban districts), with rates ranging from 10 cents per $100 for properties under $600,000 to $2.00 per $100 for properties valued at $100 million or more

Exempts from conveyance tax: properties conveyed to organizations with affordability requirements (30+ years or permanent), nonprofit conservation organizations holding land undeveloped in perpetuity, and owner-occupants or renter-occupants who own no other real property

Reallocates conveyance tax revenues: 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