Report Title:
Conveyance Tax; Rental Housing Trust Fund allocation
Description:
Makes permanent the 50 per cent allocation of conveyance tax proceeds into the Rental Housing Trust Fund set to expire on June 30, 2008.
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THE SENATE |
S.B. NO. |
2979 |
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TWENTY-FOURTH LEGISLATURE, 2008 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO HOUSING.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to make permanent the increase of disposition of conveyance tax revenues to the rental housing trust fund to fifty per cent to provide an increase of dedicated funding to finance the construction or substantial rehabilitation of affordable rental housing projects.
SECTION 2. Act 100, Session Laws of Hawaii 2006, as amended by section 4 of Act 222, Session Laws of Hawaii 2007, is amended by amending section 30 to read as follows:
"SECTION 30. This Act shall take effect
on July 1, 2006[; provided that on June 30, 2008, section 21 shall be
repealed and section 247-7, Hawaii Revised Statutes, shall be reenacted in the
form in which it read on the day before the approval of this Act]."
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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BY REQUEST |