HB1208

Hawaii HB1208 adjusts conveyance tax rates and establishes funds for affordable housing and homeless services.

Hawaii HB1208 modifies conveyance tax rates on real property sales, increasing taxes on higher-value properties to fund affordable housing and homeless services. The bill establishes a homeless services special fund and an affordable homeownership revolving fund. It allocates conveyance taxes to these funds, the land conservation fund, and other housing-related funds. The bill also exempts certain property transfers from the conveyance tax, such as those involving government entities or nonprofit organizations.