HOUSE OF REPRESENTATIVES

H.B. NO.

2536

TWENTY-SEVENTH LEGISLATURE, 2014

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to taxation.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  Section 6K-9.5, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  There is created in the state treasury a trust fund to be designated as the Kaho‘olawe rehabilitation trust fund to be administered by the department with the prior approval of the commission.  Subject to Public Law 103-139, and this chapter:

     (1)  All moneys received from the federal government for the rehabilitation and environmental restoration of the island of Kaho‘olawe or other purposes consistent with this chapter;

     (2)  Any moneys appropriated by the legislature to the trust fund;

     (3)  The appropriate percentage identified under section 247-7 of all taxes imposed and collected under chapter 247;

    [(3)] (4)  Any moneys received from grants, donations, or the proceeds from contributions; and

    [(4)] (5)  The interest or return on investments earned from moneys in the trust fund,

shall be deposited in the trust fund and shall be used to fulfill the purposes of this chapter."

     SECTION 2.  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:

     (1)  Ten per cent shall be paid into the land conservation fund established pursuant to section 173A-5;

     (2)  Twenty-five per cent from July 1, 2009, until June 30, 2012, and thirty per cent in each fiscal year thereafter shall be paid into the rental housing trust fund established by section 201H-202; [and]

     (3)  Twenty per cent from July 1, 2009, until June 30, 2012, and twenty-five per cent in each fiscal year thereafter 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 in the following priority:

         (A)  To natural area partnership and forest stewardship programs after joint consultation with the forest stewardship committee and the natural area reserves system commission;

         (B)  Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners, and management of the natural area reserves system pursuant to section 195-3; and

         (C)  The youth conservation corps established under chapter 193[.];

     (4)  Three per cent shall be paid into the Kaho‘olawe rehabilitation trust fund established pursuant to section 6K-9.5; and

     (5)  Two per cent shall be paid into the bureau of conveyances special fund established pursuant to section 502-8."

     SECTION 3.  Section 502-8, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  There is established in the state treasury the bureau of conveyances special fund, into which shall be deposited [the revenues]:

     (1)  Revenues remitted pursuant to sections 501-23.5 and 502-25[, interest];

     (2)  The appropriate percentage identified under section 247-7 of all taxes imposed and collected under chapter 247;

     (3)  Interest earnings[, grants, donations,];

     (4)  Grants;

     (5)  Donations; and [appropriations]

     (6)  Appropriations from the legislature [that],

which shall be held separate and apart from all other moneys, funds, and accounts in the state treasury."

     SECTION 4.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 5.  This Act shall take effect on July 1, 2014.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Conveyance Tax; Kaho‘olawe; Bureau of Conveyances

 

Description:

Requires 3% of the conveyance tax collected to be deposited into the Kaho‘olawe rehabilitation trust fund.  Requires 2% of the conveyance tax collected to be deposited into the bureau of conveyances special fund.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.