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HOUSE OF REPRESENTATIVES |
H.B. NO. |
915 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
H.D. 2 |
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STATE OF HAWAII |
S.D. 2 |
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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. The purpose of this Act is to enable the counties to promptly track ownership, encumbrances, restrictions, uses, and sales prices of real property for the purpose of determining real property tax assessments. This Act requires the director of taxation to provide the administrator of each county's real property assessment division with an image of all certificates of conveyances filed with the bureau of conveyances.
SECTION 2. Section 247-6, Hawaii Revised Statutes, is amended to read as follows:
"§247-6 Certificate of conveyance
required. (a) Any party, with the exception of governmental bodies,
agencies, or officers, to a document or instrument subject to this chapter, or
the party's authorized representative, shall file, in the manner and place
which the director of taxation shall prescribe, a certificate of conveyance
setting forth the actual and full consideration of the property transferred,
including any lien or encumbrance on the property, and [such] any
other facts as the director may by rules prescribe. The certificate of
conveyance shall be verified by a written declaration thereon that the
statements made therein are subject to the penalties in section 231-36. The
certificate shall be appended to the document or instrument made subject to
this chapter and shall be filed with the director simultaneously with the
aforementioned document or instrument for the imprinting of the required seal
or seals.
(b) No certificate is required to be filed for
any document or instrument made exempt by section 247-3, except that in the
following situations, a certificate shall be filed in the manner and place [which]
that the director shall prescribe, within ninety days after the
transaction or prior to the recordation or filing of the document or instrument
with the registrar of conveyances or the assistant registrar of the land court
or after [such] the ninety-day period, recordation, or filing as
the director shall prescribe:
(1) [In the case of] For any document
or instrument described under section 247-3(3), any party to the document or
instrument shall file a certificate declaring that the document or instrument
merely confirms or corrects a deed, lease, sublease, assignment, transfer, or
conveyance previously recorded or filed.
(2) [In the case of] For any document
or instrument described under section 247-3(4), any party to the document or
instrument shall file a certificate declaring the amount of the nominal
consideration paid and marital or parental relationship of the parties.
(3) [In the case of] For any document
or instrument described under section 247-3(5), any party to the document or
instrument shall file a certificate declaring the reasons why the consideration
is $100 or less.
(4) [In the case of] For any document
or instrument described in section 247-3(6), any party to the document or
instrument shall file a certificate declaring that the document or instrument
is made pursuant to an agreement of sale, and where applicable, an assignment
or assignments of agreements of sale.
(5) [In the case of] For any document
or instrument described under section 247-3(8), any person made a party to the
document or instrument as grantee, assignee, or transferee shall file a
certificate declaring the full and actual consideration of the property
transferred.
(6) [In the case of] For any document
or instrument described under section 247-3(11), any party to the document or
instrument shall file a certificate declaring each owner's:
(A) Undivided interest in the real property and the value of that interest before partition; and
(B) Proportionate interest and the value of that interest after partition.
(7) [In the case of] For any document
or instrument described under section 247-3(12), any party to the document or
instrument shall file a certificate declaring that the document or instrument
is made pursuant to an order of the court and containing the court case number.
(8) [In the case of] For any document
or instrument described under section 247-3(13), any party to the document or
instrument shall file a certificate declaring that the document or instrument
conveys real property from a testamentary trust to a trust beneficiary.
(9) [In the case of] For any document
or instrument described under section 247-3(14), any party to the document or
instrument shall file a certificate declaring that the document or instrument
conveys real property from the grantor to a grantor's revocable living trust or
from a grantor's revocable living trust to the grantor.
(c) The form of the certificate and the procedure to be followed for the submission of the certificate shall be prescribed by the director.
(d) Notwithstanding the foregoing, where the director deems it impracticable to require the filing of a certificate or certificates or to obtain the signatures of any or all parties to a certificate or certificates required under this section, the director may, in the director's discretion, waive the requirement of filing the certificate or certificates or of securing the signature of any or all parties to the certificate or certificates.
(e) No document or instrument, on account of which a certificate is required to be filed with the office of the director under this section, shall be accepted for recordation or filing with the registrar of conveyances or the assistant registrar of the land court, unless the certificate has been duly filed.
(f) Within twenty-one business days after the end of each week, or as soon thereafter as possible, the director of taxation shall provide to the administrator of each county's real property assessment division, without charge, an image of all certificates of conveyance that were filed. For each certificate of conveyance, the image shall include the following:
(1) Document number;
(2) Date of the filing;
(3) Name of grantor and grantee;
(4) Tax map key number;
(5) Location of the real property by island; and
(6) Address for real property assessment notice and tax bill."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2011.
Report Title:
Taxation; Conveyance Tax
Description:
Requires the Director of Taxation to provide the administrator of each county's real property assessment division with an image of all certificates of conveyances filed with the Bureau of Conveyances within twenty-one business days after the end of each week. (SD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.