Hawaii HB1920 amends the low-income housing tax credit to allow taxpayers to claim the credit against their net income tax liability.

Hawaii HB1920 amends the low-income housing tax credit to allow taxpayers to claim the credit against their net income tax liability. The credit can be allocated by a partnership or limited liability company in any manner agreed to by the partners or members. The credit may be claimed whether or not the taxpayer is eligible to be allocated a federal low-income housing tax credit. The credit may be transferred, sold, or assigned to any taxpayer, with the transferor required to notify the department of taxation.

Hawaii HB1920 amends the low-income housing tax credit to allow taxpayers to claim the credit against their net income tax liability.

Hawaii HB1920 amends the low-income housing tax credit to allow taxpayers to claim the credit against their net income tax liability. The credit can be allocated by a partnership or limited liability company in any manner agreed to by the partners or members. The credit may be claimed whether or not the taxpayer is eligible to be allocated a federal low-income housing tax credit. The credit may be transferred, sold, or assigned to any taxpayer, with the transferor required to notify the department of taxation.