HB949

Extends the low-income housing tax credit in Hawaii through December 31, 2032.

This bill amends Hawaii tax law to extend the low-income housing tax credit through December 31, 2032. It modifies the tax credit provisions to allow taxpayers to claim the credit regardless of their eligibility for the federal low-income housing tax credit. The changes apply to qualified low-income buildings awarded credits after December 31, 2016, and to taxable years beginning after December 31, 2024.