Hawaii HB949 amends the low-income housing tax credit to allow for credit allocation and transfer.

Hawaii HB949 modifies the low-income housing tax credit by allowing taxpayers to allocate credits among partners or members of partnerships or limited liability companies. The bill also permits the transfer, sale, or assignment of credits to any taxpayer, regardless of their interest in the qualified low-income building. The amendments apply to credits awarded after December 31, 2016, and the changes will be repealed on December 31, 2032.

Hawaii HB949 amends the low-income housing tax credit to allow for credit allocation and transfer.

Hawaii HB949 modifies the low-income housing tax credit by allowing taxpayers to allocate credits among partners or members of partnerships or limited liability companies. The bill also permits the transfer, sale, or assignment of credits to any taxpayer, regardless of their interest in the qualified low-income building. The amendments apply to credits awarded after December 31, 2016, and the changes will be repealed on December 31, 2032.