HB 286

Bill Subjects

Affordable Housing Exemption Conveyance Tax Disposition Rate Rental Housing Revolving Fund

Abstract

Increases the rate of conveyance tax for condominiums and single family residences ineligible for a county homeowner's exemption with a value of at least $2,000,000. Exempts from the conveyance tax documents and instruments conveying real property subject to a government assistance program approved and certified by the Hawaii housing finance and development corporation and used for the provision of affordable housing for qualified persons in the State. Removes maximum dollar amount of conveyance tax revenues that are to be paid into the rental housing revolving fund each fiscal year. Effective 1/1/2024.