Category Archives: Conveyance (HRS 247)

SB 362 SD 2

SUBJECT:  CONVEYANCE, Tax Hike, Affordable Housing Exemption, Owner-Occupant/Renter-Occupant Exemption, Modify Earmark

BILL NUMBER:  SB 362 SD 2

INTRODUCED BY: Senate Committee on Ways and Means

EXECUTIVE SUMMARY:   Increases the rate of conveyance tax for condominiums and single family residences for which the purchaser is ineligible for a county homeowner’s exemption with a value of at least $2,000,000. Exempts from the conveyance tax documents and instruments conveying real property subject to a government assistance program qualified by the Hawaiʻi housing finance and development corporation. Exempts from the conveyance tax documents and instruments conveying real property to owner-occupants or renter-occupants who own no other real property. Removes the maximum dollar amount of conveyance tax revenues that are to be paid into the rental housing revolving fund each fiscal year. Continue reading SB 362 SD 2

SB 362 SD 1

SUBJECT:  CONVEYANCE, Tax Hike, Affordable Housing Exemption, Modify Earmark

BILL NUMBER:  SB 362 SD 1

INTRODUCED BY: Senate Committee on Housing

EXECUTIVE SUMMARY:   Increases the rate of conveyance tax for condominiums and single family residences ineligible for a county homeowner’s exemption with a value of at least $2,000,000. Exempts from the conveyance tax documents and instruments conveying real property subject to a government assistance program approved and certified by Hawaii Housing Finance and Development Corporation and used for the provision of affordable housing for qualified persons in the State. Removes maximum dollar amount of conveyance tax revenues that are to be paid into the rental housing revolving fund each fiscal year. Continue reading SB 362 SD 1

HB 148, SB 1606

SUBJECT: CONVEYANCE, Conveyance Tax Vacancy Surcharge; Prolonged Vacant Property

BILL NUMBER:  HB 148, SB 1606

INTRODUCED BY: HB by PERRUSO, COCHRAN, GANADEN, HUSSEY-BURDICK, KAPELA, KILA, MARTEN, MATAYOSHI, TODD, WARD, Chun, Tam; SB by SHIMABUKURO, AQUINO, CHANG, Awa, Kidani, Moriwaki, Wakai

EXECUTIVE SUMMARY:   Establishes a surcharge on the conveyance tax upon the transfer or conveyance of prolonged vacant property. Continue reading HB 148, SB 1606

HB 1351

SUBJECT: CONVEYANCE, Tax Hike for Properties Sold by Foreign Entities or Non-resident Foreign Nationals

BILL NUMBER:  HB 1351

INTRODUCED BY: MATAYOSHI, AMATO, BELATTI, COCHRAN, HOLT, HUSSEY-BURDICK, KAHALOA, KAPELA, KILA, KITAGAWA, KOBAYASHI, LOWEN, MARTEN, NAKASHIMA, NISHIMOTO, PERRUSO, POEPOE, TAM, Ganaden

EXECUTIVE SUMMARY: Amends the conveyance tax by adding a fee schedule for properties that are sold by foreign entities or non-resident foreign nationals. Continue reading HB 1351

SB 678

SUBJECT: CONVEYANCE, Tax Hike, Exemption for Property with Price Cap, Change Earmarks

BILL NUMBER:  SB 678

INTRODUCED BY: SAN BUENAVENTURA, CHANG, MCKELVEY

EXECUTIVE SUMMARY:   Increases the conveyance tax rates. Exempt the conveyance tax on property with a restriction on increasing the rental price or resale price above any increase in the consumer price index for at least thirty years. Removes the maximum disposition caps of the conveyance tax allocated to the Rental Housing Revolving Fund and Legacy Land Use Conservation Fund. Allocates ten per cent of the conveyance tax for homeless services and supportive housing. Creates the Homeless Services Fund. Continue reading SB 678

SB 362

SUBJECT:  CONVEYANCE, Tax Hike, Affordable Housing Exemption, Modify Earmark

BILL NUMBER:  SB 362, HB 286

INTRODUCED BY: SB by CHANG; HB by KILA, CHUN, HASHIMOTO, HOLT, POEPOE, TODD

EXECUTIVE SUMMARY:   Increases the rate of conveyance tax for condominiums and single family residences ineligible for a county homeowner’s exemption with a value of at least $2,000,000. Exempts from the conveyance tax documents and instruments conveying real property subject to a government assistance program approved and certified by Hawaii Housing Finance and Development Corporation and used for the provision of affordable housing for qualified persons in the State. Removes maximum dollar amount of conveyance tax revenues that are to be paid into the rental housing revolving fund each fiscal year.

Continue reading SB 362

HB 2041, SB 2351

SUBJECT:  CONVEYANCE, Increase Earmark to Land Conservation Fund for Land Acquisition

BILL NUMBER:  HB 2041, SB 2351

INTRODUCED BY: HB by SAIKI by request; SB by KEITH-AGARAN, KANUHA, LEE, Shimabukuro

EXECUTIVE SUMMARY: Increases the percentage of the land conservation fund that may be used for costs related to the operation, maintenance, and management of lands acquired by the fund. Increases the maximum dollar amount of the conveyance tax distribution to the land conservation fund. Appropriates funds from the land conservation fund for the resource land acquisition.

Continue reading HB 2041, SB 2351