Report Title:
Conveyance Tax; Disposition
Description:
Changes the percentage of the conveyance tax designated to the natural area reserve fund from 25% to 12 1/2%. Appropriates $1,000,000 for homeless assistance. Requires the Housing and Community Development Corporation of Hawaii to submit a report to the Legislature. (HB2764 HD1)
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2764 |
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TWENTY-FIRST LEGISLATURE, 2002 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO CONVEYANCE TAX.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. 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], twelve and one-half 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;
(2) Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners; and
(3) The youth conservation corps established under chapter 193."
SECTION 2. The executive director of the housing and community development corporation of Hawaii shall submit a report to the legislature no later than twenty days prior to the convening of the regular session of 2003 that:
(1) Details the current expenditures of the housing and community development corporation for providing homeless assistance; and
(2) Assesses and identifies the funding needs for providing homeless assistance during fiscal years 2003-2004 and 2004-2005.
SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $1,000,000 or so much thereof as may be necessary for fiscal year 2002-2003 for the purpose of providing homeless assistance pursuant to chapter 201G, part IV, Hawaii Revised Statutes.
The sum appropriated shall be expended by the housing
and community development corporation for the purposes of this
Act.
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect upon approval; provided that:
(1) Section 3 shall take effect on July 1, 2002; and
(2) On June 30, 2003, section 1 of this Act shall be repealed and section 247-7, Hawaii Revised Statutes shall be reenacted in the form in which it read on the day before the approval of this Act.