SB 826 Summary

• Amends Section 235-110.8 of Hawaii Revised Statutes to exclude the School Facilities Authority from eligibility as a housing developer under the Low-Income Housing Tax Credit program.

• Adds language specifying that the low-income housing tax credit provisions "shall not apply to chapter 302A, part VI, subpart C" (which covers the School Facilities Authority).

• Maintains existing provisions allowing taxpayers to claim low-income housing tax credits against net income tax liability and allowing partnerships or limited liability companies to allocate credits flexibly.

• Takes effect on July 1, 3000 (likely a drafting error; intended date unclear).