SB3028 amends Hawaii property conveyance tax rates and fund allocations.

SB3028 modifies the rates for property conveyance taxes in Hawaii, setting different rates based on property value. It also changes how tax proceeds are allocated among various funds, including the land conservation fund, rental housing revolving fund, and special land and development fund. The bill specifies uses for these funds, such as land acquisition, trail development, and infrastructure programs. The changes take effect on January 1, 2027.

SB3028 amends Hawaii property conveyance tax rates and fund allocations.

SB3028 modifies the rates for property conveyance taxes in Hawaii, setting different rates based on property value. It also changes how tax proceeds are allocated among various funds, including the land conservation fund, rental housing revolving fund, and special land and development fund. The bill specifies uses for these funds, such as land acquisition, trail development, and infrastructure programs. The changes take effect on January 1, 2027.