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

Hawaii SB2675 amends the state's low-income housing tax credit to extend its availability through December 31, 2032. The bill allows taxpayers to claim the credit against their net income tax liability for qualified low-income buildings. It also permits the transfer, sale, or assignment of the credit to other taxpayers, with required notification to the Department of Taxation. The amendments made to section 235-110.8, Hawaii Revised Statutes, by this Act will not be repealed when that section is reenacted on December 31, 2032.

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

Hawaii SB2675 amends the state's low-income housing tax credit to extend its availability through December 31, 2032. The bill allows taxpayers to claim the credit against their net income tax liability for qualified low-income buildings. It also permits the transfer, sale, or assignment of the credit to other taxpayers, with required notification to the Department of Taxation. The amendments made to section 235-110.8, Hawaii Revised Statutes, by this Act will not be repealed when that section is reenacted on December 31, 2032.