Allocates twenty per cent of conveyance tax revenues to the Dwelling Unit Revolving Fund. Repeals the annual cap amount on the allocation of conveyance tax revenues to the Rental Housing Revolving Fund.
Establishes the Homeless Services Special Fund. Allows counties to apply for matching funds from the Affordable Homeownership Revolving Fund for certain housing projects. Increases the conveyance tax rates for certain properties. Establishes conveyance tax rates for multifamily residential properties. Establishes new exemptions to the conveyance tax. Allocates collected conveyance taxes to the Affordable Homeownership Revolving Fund, Homeless Services Special Fund, and Dwelling Unit Revolving Fund. Amends allocations to the Land Conservation Fund and Rental Housing Revolving Fund.
Establishes the Pro-Housing Score Program to evaluate each county's performance in expanding housing opportunities and reducing regulatory barriers. Requires the counties to publish their respective pro-housing scores online and the Hawaii Housing Finance and Development Corporation to publish certain related information and data on a public dashboard. Establishes criteria for deeming a county noncompliant. Establishes builder's remedies for certain housing projects in transit-oriented development areas. Specifies that if a county is deemed noncompliant, the planning director or an equivalent county officer responsible for land use approvals shall be responsible for approving or denying certain affordable housing development applications. Establishes procedures for certain transit-oriented development housing project appeals. Appropriates funds. Effective 7/1/2050. (SD1)
For taxable years beginning 1/1/2027, increases the maximum annual deduction for contributions to, and maximum account levels for, individual housing accounts.
Beginning 1/1/2027, authorizes the Hawaii Housing Finance and Development Corporation, instead of the counties, to approve and certify general excise tax exemptions for certain housing development projects developed under county housing incentive programs. Sunsets 7/1/2031. (CD1)
Restructures the conveyance tax to a marginal rate system for the sale of properties with residential use, adjusts the tax for multifamily properties to reflect value on a per-unit basis, and applies a cost-of-living adjustment to conveyance tax rates. Allocates revenues from conveyance tax collections. Allocates a portion of conveyance tax collections to the Dwelling Unit Revolving Fund to fund infrastructure programs in county-designated transit-oriented development areas that meet minimum standards of transit-supportive density. Allocates a portion of conveyance tax revenues to the Hawaiian Home Lands Trust Fund.
Authorizes the Hawaii Housing Finance and Development Corporation to approve and certify general excise tax exemptions, including for non-contracting costs, for certain housing development projects developed under county housing incentive programs. Makes conforming amendments. Sunsets 7/1/2031. Effective 7/1/2050. (SD1)
Establishes the Homeless Services Special Fund. Allows counties to apply for matching funds from the Affordable Homeownership Revolving Fund for certain housing projects. Increases the conveyance tax rates for certain properties. Establishes conveyance tax rates for multifamily residential properties. Establishes new exemptions to the conveyance tax. Allocates collected conveyance taxes to the Affordable Homeownership Revolving Fund, Homeless Services Special Fund and, and Dwelling Unit Revolving Fund. Amends allocations to the Land Conservation Fund and Rental Housing Revolving Fund.
Authorizes the counties to implement housing infrastructure growth bonds. Conforms county debt limit statements law to permit counties to exclude housing infrastructure growth bonds from the debt limit of the counties if a constitutional amendment authorizing the use of housing infrastructure growth bonds and excluding housing infrastructure growth bonds from determinations of the counties' funded debt is ratified. Effective 7/1/3000. (HD1)
Establishes the Vacant and Blighted Residential Property Redevelopment Program within the Hawaii Housing Finance and Development Corporation. Appropriates funds.