Report Title:
Counties; Conveyance Tax
Description:
Allocates an unspecified percentage of the conveyance tax to the counties for the development of affordable housing.
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THE SENATE |
S.B. NO. |
447 |
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TWENTY-THIRD LEGISLATURE, 2005 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to conveyance tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 247-7, Hawaii Revised Statutes, is amended to read as follows:
"§247-7 Disposition of taxes. All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year[, twenty-five]:
(1) Twenty-five per cent shall be paid into the rental housing trust fund established by section 201G-432 and [twenty-five];
(2) Twenty-five per cent shall be paid into the natural area reserve fund established by section 195-9; provided that the funds paid into the natural area reserve fund shall be annually disbursed by the department of land and natural resources after joint consultation with the forest stewardship committee and the natural area reserves system commission in the following priority:
[(1)] (A) To natural area partnership and forest stewardship programs;
[(2)] (B) Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners; [and]
[(3)] (C) The youth conservation corps established under chapter 193[.]; and
(3) per cent shall be paid to the counties for the development of affordable housing."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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