Bill > SB826

This bill amends Section 235-110.8 of the Hawaii Revised Statutes to modify the Low-Income Housing Tax Credit (LIHTC) provisions by adding language that explicitly excludes the School Facilities Authority from being eligible for the tax credit. Specifically, the bill adds a proviso that states the low-income housing tax credit shall not apply to Chapter 302A, Part VI, Subpart C, which presumably relates to the School Facilities Authority. The bill maintains the existing framework of the tax credit, which allows taxpayers to claim a credit against their net income tax liability and permits partnerships and limited liability companies to allocate the credit among partners or members in any agreed-upon manner. The legislation is set to take effect on July 1, 3000 (which appears to be a placeholder date), and aims to clarify and restrict the application of the low-income housing tax credit by removing the School Facilities Authority's potential eligibility.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=826&year=2026