Category Archives: Conveyance (HRS 247)

HB 207, Proposed SD-1

SUBJECT:  CONVEYANCE, ESTATE, Tax Hikes

BILL NUMBER:  HB 207, Proposed SD-1

INTRODUCED BY:  Senate Committee on Ways and Means

EXECUTIVE SUMMARY:  Increases estate taxes for Hawaii net taxable estates valued at over $10,000,000.  Raises the conveyance tax rates for residential investment properties with a value of at least $2,000,000.

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HB 2703, HD-1, SD-1

SUBJECT:  CONVEYANCE, INCOME, Earmark Conveyance Tax to Feed Rental Assistance Revolving Fund, Make EITC Refundable, Increase Low-Income Household Renters Credit

BILL NUMBER:  HB 2703, HD-1, SD-1

INTRODUCED BY:  Senate Committee on Housing

EXECUTIVE SUMMARY: (1) Allocates a portion of the conveyance tax revenues to the rental assistance revolving fund to be used to subsidize rents for persons who meet certain income requirements; (2) Increases the income tax credit for low-income household renters to an unspecified amount; and (3) Makes the state earned income tax credit refundable and changes the amount of the credit to an unspecified percentage of the federal earned income tax credit.

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SB 2188, SD-3

SUBJECT:  CONVEYANCE, Hike Rates and Allocate to County Affordable Housing Fund

BILL NUMBER:  SB 2188, SD-3

INTRODUCED BY:  Senate Floor Amendment

EXECUTIVE SUMMARY:  Establishes an additional conveyance tax rate for the sale of condominiums or single-family residences valued at more than $2 million, whether or not owner-occupied.  Requires that the revenue collected in each county from the additional conveyance tax rate be allocated to the respective county’s affordable housing fund.  Sunsets 6/30/2023.

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SB 3089, SD-2

SUBJECT:  CONVEYANCE, Allows Indication of Short-Term Rental Permission on Conveyance

BILL NUMBER:  SB 3089, SD-2

INTRODUCED BY: Senate Committee on Ways & Means

EXECUTIVE SUMMARY:  Allows counties to enact ordinances that require the grantor of real property to include in the certificate or certificates of conveyance a county’s determination whether the granted real property may be used for short-term rentals under the county’s zoning or land use ordinances.

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SB 2415 SD-1

SUBJECT:  CONVEYANCE, Tax Hike on Properties Above $2M

BILL NUMBER:  SB 2415 SD-1

INTRODUCED BY: Senate Committee on Ways & Means

EXECUTIVE SUMMARY:  Increases the rates for certain conveyance tax categories. Repeals the statutory cap on the disposition of conveyance taxes dedicated for deposit into the rental housing revolving fund for the financing of affordable rental housing development.

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SB 2756, SD-1

SUBJECT:  CONVEYANCE, Remove Cap on Earmark to Rental Housing Revolving Fund

BILL NUMBER:  SB 2756, SD-1

INTRODUCED BY:  Senate Committee on Ways & Means

EXECUTIVE SUMMARY:  Proposes to reverse Act 84, SLH 2015, which imposed the $38 million cap on the conveyance tax revenues to be redirected to the rental housing revolving fund.  The cap was imposed to make general fund forecasting more reliable and increase transparency and accountability.

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SB 2416 SD-2

SUBJECT:  CONVEYANCE, Tax Hike on Properties Above $2M

BILL NUMBER:  SB 2416 SD-2

INTRODUCED BY: Senate Committee on Ways & Means

EXECUTIVE SUMMARY:  Increases the rates for certain conveyance tax categories. Repeals the statutory cap on the disposition of conveyance taxes dedicated for deposit into the rental housing revolving fund for the financing of affordable rental housing development

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SB 2415

SUBJECT:  CONVEYANCE, Tax Hike on Properties Above $2M

BILL NUMBER:  SB 2415

INTRODUCED BY: ESPERO, HARIMOTO, S. Chang

EXECUTIVE SUMMARY:  Increases the rates for certain conveyance tax categories. Repeals the statutory cap on the disposition of conveyance taxes dedicated for deposit into the rental housing revolving fund for the financing of affordable rental housing development

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SB 2421, SD-1

SUBJECT:  CONVEYANCE, MISCELLANEOUS, Fund Housing with Conveyance Tax

BILL NUMBER:  SB 2421, SD-1

INTRODUCED BY: Senate Committee on Housing

EXECUTIVE SUMMARY:  Authorizes the issuance of general obligation bonds for construction and infrastructure development projects to provide affordable housing units for middle class and low-income residents. Allows moneys from the conveyance tax and the county surcharge on state tax to be used to repay the bonds.  The provisions allowing repayment of the bonds from the specified sources are unnecessary.

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