Loading chat...

HI HR96

Resolution

Official Source

Status

Introduced

3/10/2023

Primary Sponsor

Micah Aiu

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Requests Hawaii counties to issue transferable affordable housing credits to developers for affordable housing units constructed under chapter 201H, Hawaii Revised Statutes, through July 1, 2031.

  • Credits issued on a one-credit-per-unit basis (unless county ordinances allow additional credits), applicable county-wide to satisfy affordable housing obligations on market-priced residential and non-residential developments.

  • Excludes projects using low-income housing tax credits from receiving affordable housing credits.

  • Requires 25 percent of monetary proceeds from credit transfers to the Hawaii Housing Finance and Development Corporation (HHFDC) be used for rental property development.

  • Directs HHFDC to enter into memoranda of agreement with Kauai County and Honolulu to establish conditions for credit issuance, transfer, and redemption consistent with county affordable housing ordinances.

Legislative Description

Requesting The Counties To Temporarily Issue Affordable Housing Credits For Affordable Housing Units That Are Constructed Pursuant To Chapter 201h, Hawaii Revised Statutes.

Counties

Last Action

The committee(s) on HSG recommend(s) that the measure be deferred.

3/22/2023

Committee Referrals

Housing3/15/2023

Full Bill Text

No bill text available