SB 3028: CONVEYANCE TAX; TRANSIT-ORIENTED DEVELOPMENT INFRASTRUCTURE SUBACCOUNT; DWELLING UNIT REVOLVING FUND; INFRASTRUCTURE FUNDING; COUNTY-DESIGNATED TRANSIT-ORIENTED DEVELOPMENT; HAWAIIAN HOME LANDS INFRASTRUCTURE AND HOUSING SPECIAL FUND; APPROPRIATION

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.  Establishes the Transit-Oriented Development Infrastructure Subaccount within the Dwelling Unit Revolving Fund.  Allocates a portion of conveyance tax collections to the Transit-Oriented Development Infrastructure Subaccount and Hawaiian Home Lands Infrastructure and Housing Special Fund.  Establishes and appropriates funds out of the Hawaiian Home Lands Infrastructure and Housing Special Fund.  Effective 7/1/3000.  (HD2)