HI HB916

Allows the state low-income housing tax credit to be applied against transient accommodations tax liability, in addition to income tax liability.

Limits application of credits to transient accommodations taxes imposed in the same county where the qualified low-income building is located.

Makes permanent Act 129 (Session Laws of Hawaii 2016) by removing the December 31, 2027 sunset provision that would have repealed the low-income housing tax credit program.

Permits unused tax credits to carry forward to subsequent years until exhausted for both income and transient accommodations tax purposes.

Effective July 1, 3000, with Section 3 applying to taxable years beginning after December 31, 2025.