SB1218

SB1218 increases conveyance tax rates for real property sales in Hawaii to fund affordable housing, land conservation, and homeless services.

SB1218 amends Hawaii's conveyance tax laws to increase tax rates on real property sales, with the revenue allocated to various funds. The bill establishes a homeless services special fund to provide loans for homeless services and supportive housing. It also creates an affordable homeownership revolving fund to offer loans for affordable homeownership housing projects. Additionally, the bill increases conveyance tax rates for different property values and allocates a portion of the tax revenue to the land conservation fund.