Bill > SB2012

This bill proposes to amend Hawaii Revised Statutes Section 247-7 to remove a cap on the amount of conveyance tax revenues that are allocated to the land conservation fund. The conveyance tax is a tax on the transfer of real property, and the land conservation fund is used to protect various natural and cultural resources in Hawaii, such as watersheds, coastlines, and agricultural lands. Currently, only ten percent of the conveyance tax collected, or $5,100,000, whichever is less, is directed to this fund. By removing the "$5,100,000, whichever is less" provision, the bill aims to ensure that ten percent of all conveyance tax revenue, regardless of the total amount collected, will be deposited into the land conservation fund, thereby increasing its funding for conservation efforts.

Agriculture and Natural Resources

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2012&year=2026