Hawaii SB41 modifies the disposition of conveyance taxes to fund specific state programs.
Hawaii SB41 amends the disposition of conveyance taxes to allocate funds to specific state programs. Ten percent or $5,100,000, whichever is less, will be directed to the land conservation fund. Fifty percent or $38,000,000, whichever is less, will go to the rental housing revolving fund. Another ten percent will be allocated to the dwelling unit revolving fund, which supports housing development programs and regional state infrastructure projects. The changes take effect on July 1, 2025.
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