Bill > HB1920

This bill clarifies that a partnership or limited liability company that receives a low-income housing tax credit, which is a credit against income tax for developing affordable housing, can either further divide that credit among its partners or members or sell or transfer all or part of it to any other taxpayer, even if they don't directly own the housing project, as long as the transfer is reported to the tax department. Additionally, the bill extends the expiration date for Act 129 of 2016, which relates to these tax credits, from December 31, 2027, to December 31, 2032, meaning these provisions will remain in effect for taxable years beginning after December 31, 2026, and the changes made by this bill will not be repealed when the original act expires.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1920&year=2026