SB469

Increases conveyance tax rates to fund affordable housing, homelessness services, and land conservation in Hawaii.

This bill increases the conveyance tax rates on real property sales to generate revenue for affordable housing, homelessness services, and land conservation in Hawaii. The tax rates vary based on property value, ranging from 0.5% to 7% per $100. Exemptions include transfers before 1967, documents securing debts, and conveyances to certain nonprofit organizations. Funds are allocated to the rental housing revolving fund, affordable homeownership revolving fund, homeless services special fund, and land conservation fund.