SB2379 amends Hawaii tax laws to allocate conveyance taxes to various funds, including the land conservation fund and the rental housing revolving.

SB2379 amends Hawaii Revised Statutes to change how conveyance taxes are allocated. Ten percent or $5,100,000, whichever is less, of the taxes collected each fiscal year will go to the land conservation fund. Additionally, fifty percent or $38,000,000, whichever is less, will be allocated to the rental housing revolving fund, and twenty percent will go to the dwelling unit revolving fund. These funds are intended to support housing development programs, regional state infrastructure programs, and the government employee housing program.

SB2379 amends Hawaii tax laws to allocate conveyance taxes to various funds, including the land conservation fund and the rental housing revolving.

SB2379 amends Hawaii Revised Statutes to change how conveyance taxes are allocated. Ten percent or $5,100,000, whichever is less, of the taxes collected each fiscal year will go to the land conservation fund. Additionally, fifty percent or $38,000,000, whichever is less, will be allocated to the rental housing revolving fund, and twenty percent will go to the dwelling unit revolving fund. These funds are intended to support housing development programs, regional state infrastructure programs, and the government employee housing program.