Bill > SCR77

This concurrent resolution addresses the ongoing housing crisis in Hawaii by clarifying the legislative intent regarding housing credits established under Act 31 of the 2024 Session Laws. The resolution affirms that housing projects approved by the Hawaii Housing Finance and Development Corporation (HHFDC) before July 1, 2031, will remain eligible to receive housing credits even after Act 31's repeal, providing certainty for developers. It requests both the HHFDC and each county to include specific details when approving housing projects, such as a statement of developers' rights to housing credits, the number of qualifying housing units, and the number of available housing credits. The resolution stems from a 2019 study revealing significant housing shortages across Hawaii's counties, with the state needing an additional 50,156 homes by 2025, and is further motivated by rising mortgage and construction financing costs that have made housing less affordable. By passing this resolution, the legislature aims to support continued housing development and provide clarity for developers seeking to build housing units under the existing program.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SCR&billnumber=77&year=2025