Report Title:

Conveyance Tax; 12.5% Distribution for Homeless Assistance

 

Description:

Maintains the 12.5% distribution of conveyance taxes to the rental housing trust fund. Distributes 12.5% of conveyance taxes to the housing and community development corporation of Hawaii for the purpose of providing homeless assistance.

 

THE SENATE

S.B. NO.

1325

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to conveyance tax.

 

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

SECTION 1. Act 269, Session Laws of Hawaii 2000, section 2, is amended by amending section 247-7 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, twelve and one-half per cent shall be paid into the rental housing trust fund established by section 201G-432, twelve and one-half per cent shall be paid to the housing and community development corporation to be expended for the purposes of providing homeless assistance pursuant to part IV of chapter 201G, and 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) To natural area partnership and forest stewardship programs; and

(2) Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners.""

SECTION 2. Act 269, Session Laws of Hawaii 2000, is amended by amending section 5 to read as follows:

"SECTION 5. This Act shall take effect upon its approval[; provided that section 3 shall take effect on July 1, 2001]."

SECTION 3. Act 269, Session Laws of Hawaii 2000, is amended by repealing section 3.

["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, twenty-five per cent shall be paid into the rental housing trust fund established by section 201G-432 and 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 [to the natural area partnership and forest stewardship programs] 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) To natural area partnership and forest stewardship programs; and

(2) Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners."]

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 Statutory material to be repealed is bracketed and stricken.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

SECTION 5. This Act shall take effect on upon approval.

INTRODUCED BY:

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