HI SR132

Urges Hawaii Housing Finance and Development Corporation to revise its Low-Income Housing Tax Credit Program's Qualified Allocation Plan to prioritize projects owned by the State or organizations required to use all profits to construct additional housing.

Requests the corporation add a new criteria category allocating up to 20 percent of maximum 120 points on the tax credit application to projects offering to convey ownership to the State or a non-profit housing organization.

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

Instructs 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 or non-profit housing projects and prioritize applicants with accelerated repayment of past state housing loans.