HI SB867

Extends the temporary low-income housing tax credit program established by Act 129, Session Laws of Hawaii 2016, for six additional years through December 31, 2027 (previously set to expire December 31, 2021).

Amends section 235-110.8, Hawaii Revised Statutes, to delay the reenactment of the statute to its pre-2017 form until after the extended expiration date.

Addresses affordable housing crisis exacerbated by COVID-19 pandemic, citing data showing over 11,000 Hawaii tenants behind on rent and up to 17,000 households facing unsustainable housing cost burdens by second quarter 2021.

References economic hardship from pandemic, noting Hawaii's unemployment surged to 22.3% in April 2020 and remained among the nation's highest as of November 2020.