SB754 amends Hawaii tax law to modify the credit for qualified low-income housing projects.
SB754 amends Hawaii tax law to modify the credit for qualified low-income housing projects. It requires taxpayers to amend their tax returns to include Form 8609 and adjust the credit amount if different from previously claimed. The credit can be claimed for up to ten years after the project's completion. The bill applies to taxable years beginning after December 31, 2024, with specific provisions for the reenactment of section 235-110.8 on December 31, 2027.
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