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provided further that costs for the development of or an update to an existina county comprehensive affordable housina plan mav, upon application, be paid out of these funds. [44+] (j) The corporation shall submit a report to the legislature no later than twenty days prior to the convening of each regular session describing the projects funded using moneys from the affordable homeownership revolving fund." SECTION 4. Section 247-2, Hawaii Revised Statutes, is amended to read as follows: "§247-2 Basis and rate of tax. The tax imposed by section 247-1 shall be based on the actual and full consideration (whether cash or otherwise, including any promise, act, forbearance, property interest, value, gain, advantage, benefit, or profit), paid or to be paid for all transfers or conveyance of realty or any interest therein, that shall include any liens or encumbrances thereon at the time of sale, lease, sublease, assignment, transfer, or conveyance, and shall be at the following rates: (1) Except as provided in [pafagraph ] paragLphs (2) and (3): (A) [Ten eents peLc $100 fer] For properties with a value of less than $600,000[,]: 10 cents per 11 11 n n - (B) [Twenty eents pe:e $100 feic] For properties with a value of at least $600,000, but less than $1,000,000[�r]: 20 cents per $100;