HI SB867

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

Amends section 4 of Act 129 to change the repeal date from December 31, 2021 to December 31, 2027, allowing the tax credit program to continue operating for qualified low-income buildings.

Responds to COVID-19 pandemic impacts on Hawaii's economy, including unemployment surging to 22.3 percent in April 2020 and over 11,000 tenants falling behind on rent payments.

Addresses the affordable housing crisis by extending tax credit provisions designed to support low-income housing development and mitigate housing cost burdens on vulnerable populations.