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HI SB867
Bill
AI Summary
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Amends section 201H-36 of Hawaii Revised Statutes to remove the $30,000,000 annual aggregate cost limit on general excise tax exemptions for affordable rental housing projects developed under certain contracts.
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Modifies income eligibility requirements for section 201H-36(a)(5) projects, changing the maximum household income threshold from 80% to 140% of area median family income, with at least 20% of units reserved for households at or below 80% of area median family income.
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Requires owners of qualifying rental housing projects to not refuse to lease units solely because an applicant holds a section 8 Housing Choice Voucher or certificate of eligibility under the United States Housing Act of 1937.
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Removes the June 30, 2030 sunset date from Act 54, Session Laws of Hawaii 2017, making the general excise tax and prevailing wage exemptions for rental housing construction permanent.
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Bill takes effect July 1, 2050.
Legislative Description
Relating To Housing.
Rental Housing Projects
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Belatti, Quinlan, Yamane excused (3).
3/19/2019