HB 2049: CONVEYANCE TAX; DWELLING UNIT REVOLVING FUND; INFRASTRUCTURE FUNDING; COUNTY-DESIGNATED TRANSIT-ORIENTED DEVELOPMENT; HAWAIIAN HOME LANDS TRUST FUND; DHHL

Session Year: 2025-2026
House: House

Current Status:

In Progress

(2026-02-06: The committee on WAL recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Hashem, Morikawa, Belatti, Ichiyama, Iwamoto, Poepoe, Souza; Ayes with reservations: Representative(s) Shimizu; Noes: none; and 1 Excused: Representative(s) Woodson.)

Introduced

First Committee Review

First Chamber

Second Committee Review

Second Chamber

Final Decking

Enacted

Version:

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.

Discussed in Hearing