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HI HCR217
Concurrent Resolution
Status
4/4/2018
Primary Sponsor
Beth Fukumoto Chang
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AI Summary
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Urges the President of the United States and Congress to increase federal funding for Hawaii housing initiatives to mitigate adverse effects of the Tax Cuts and Jobs Act of 2017
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Cites Hawaii's housing crisis including a shortage of 65,000 housing units, median home price of $772,000 (versus national median of $241,700), and housing costs 103.3 percent higher than the national average
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Identifies Tax Cuts and Jobs Act provisions reducing mortgage interest deduction eligibility from $1,000,000 to $750,000 and eliminating home equity loan interest deductions for non-home-related purposes as disproportionately impacting Hawaii residents
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Requests the U.S. Department of Housing and Urban Development increase funding to Hawaii programs regardless of potential budget cuts in federal appropriations bills
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Directs transmission of the resolution to the President, Vice President, congressional leadership, Hawaii's congressional delegation, HUD Secretary, Governor, and Director of Human Services
Legislative Description
Urging The President Of The United States And The United States Congress To Mitigate The Disproportionate Adverse Effects Of The Tax Cuts And Jobs Act Of 2017 On Hawaii Citizens By Increasing Federal Support Of Hawaii Housing Initiatives.
Federal Funding
Last Action
Referred to HOU/PSM.
4/10/2018