Report Title:

Conveyance Tax; Distribution

Description:

Suspends temporarily the distribution of a portion of the conveyance tax to the land conservation fund.  Reduces temporarily the portions transmitted to the natural area reserve fund and rental housing trust fund.

HOUSE OF REPRESENTATIVES	H.B. NO.	1741
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

relating to the conveyance tax.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The purpose of this Act is to:

     (1)  Temporarily suspend the distribution of a portion of the conveyance tax to the land conservation fund; and

     (2)  Temporarily reduce the portions of the conveyance tax distributed to the rental housing trust fund and natural area reserve fund.

     SECTION 2.  Section 173A-5, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:

     "(d)  [Ten per cent] The appropriate percentage identified under section 247-7 of all taxes imposed and collected [by section 247-1] under chapter 247 shall be deposited in or credited to the fund every fiscal year."

     SECTION 3.  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:

     (1)  [Ten] None from July 1, 2009 until June 30, 2015 and ten per cent in each fiscal year thereafter shall be paid into the land conservation fund established pursuant to section 173A-5;

     (2)  [Thirty] Fifteen per cent from July 1, 2009 until June 30, 2015 and thirty per cent in each fiscal year thereafter shall be paid into the rental housing trust fund established by section 201H-202; and

     (3)  [Twenty-five] Ten per cent from July 1, 2009 until June 30, 2015 and twenty-five per cent in each fiscal year thereafter 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 in the following priority:

         (A)  To natural area partnership and forest stewardship programs after joint consultation with the forest stewardship committee and the natural area reserves system commission;

         (B)  Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners, and management of the natural area reserves system pursuant to section 195-3; and

         (C)  The youth conservation corps established under chapter 193."

     SECTION 4.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 5.  This Act shall take effect on July 1, 2009.

INTRODUCED BY:

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