HI HR189

Urges Hawaii Housing Finance and Development Corporation to revise the Low-Income Housing Tax Credit Program's Qualified Allocation Plan to prioritize projects owned by the State or with state purchase options.

Directs the Corporation to add a new criteria category awarding up to 20 percent of maximum 120 points to projects offering to convey ownership to the State or organizations required to use all financial surpluses for housing construction.

Directs the Corporation not to award additional points for developer fees under 12 percent and to prioritize applicants with demonstrated accelerated repayment of past Rental Housing Revolving Fund loans.

Urges the Corporation to prioritize Rental Housing Revolving Fund awards to projects owned by the State or organizations obligated to use all financial surpluses to construct additional housing.

Requests the Corporation amend administrative rules for the Rental Housing Revolving Fund to allocate up to 20 percent of maximum 250 points to state-owned projects and prioritize applicants with accelerated repayment history of past state housing loans.